ACE Nuclear Energy Act of 2026

S.4228, titled the "American Competitiveness for Exports in Nuclear Energy Act of 2026" or the "ACE Nuclear Energy Act of 2026," was introduced in the Senate on March 26, 2026, by Senator McCormick (R-PA) with one cosponsor. It was subsequently read twice and referred to the Committee on Banking, Housing, and Urban Affairs. This places the bill in an early stage of the legislative process. The bill's primary mechanism is to amend Section 8(g) of the Export-Import Bank Act of 1945. Specifically, it mandates the Export-Import Bank of the United States (EXIM) to exclude financing related to civil nuclear facilities, materials, or technology from its default rate calculation. This change could allow EXIM to undertake more financing for nuclear energy exports without negatively impacting its statutory default rate limits, thereby potentially increasing the availability of U.S. government-backed financing for such projects. Additionally, the bill permits EXIM to offer market-competitive compensation to up to 100 employees, which could enhance its operational efficiency and expertise in complex financing. Structural winners from this legislation, if enacted, would primarily be U.S. companies involved in the civil nuclear energy supply chain. This includes manufacturers of nuclear reactors and components, such as General Electric ($GE) and BWX Technologies ($BWXT), as well as energy companies with nuclear divisions or interests in nuclear power development, like ExxonMobil ($XOM) and Chevron ($CVX) which are exploring advanced nuclear technologies. The increased availability of EXIM financing could make U.S. nuclear exports more competitive globally. The bill does not authorize direct funding but rather modifies the operational parameters of an existing financial institution (EXIM) to facilitate private sector financing. Given its early stage, the bill's legislative path includes committee consideration, potential amendments, and votes in both the Senate and House. The sponsorship by a Republican Senator and one cosponsor indicates some bipartisan interest, but its ultimate passage is not guaranteed. The next step would be for the Committee on Banking, Housing, and Urban Affairs to consider the bill.