Fusion Fund

America’s Race to Harness the Power of the Stars

“The country that harnesses the power of the stars will power the world.”

America stands at a technological crossroads.

Around the world, nations are racing to develop the next generation of energy technology. China, in particular, has dramatically expanded its investments in advanced energy research, including nuclear fusion. Chinese state laboratories are building massive experimental reactors, training thousands of scientists, and pursuing long-term industrial strategies aimed at dominating future energy technologies.

If the United States fails to act, we risk falling behind in one of the most important technological races of the century.

Fusion energy — the same process that powers the stars — has the potential to produce nearly limitless electricity. It could power factories, transportation systems, artificial intelligence infrastructure, and entire cities with clean, abundant energy.

The nation that successfully commercializes fusion will control one of the most powerful economic platforms of the 21st century.

America has the scientific leadership and entrepreneurial talent to win this race — but leadership is not guaranteed. It requires bold investment and national commitment.

That is why I propose the creation of the Fusion Fund, a national initiative designed to accelerate the development of commercial fusion energy and bring the first American fusion power plants online within the next two decades.

A National Mission for Fusion

Fusion development has historically progressed slowly because it requires extremely advanced scientific infrastructure and long-term investment. Individual companies and laboratories often cannot finance these systems on their own.

The Fusion Fund will solve this problem by making a large, one-time national investment to accelerate fusion research, engineering, and commercialization.

Instead of betting on a single reactor design, the Fusion Fund will support multiple fusion technologies simultaneously, allowing engineering competition and scientific breakthroughs to determine the best path forward.

The program will support development of:

• Magnetic confinement systems such as tokamaks and stellarators
• Inertial fusion systems using lasers or particle beams
• Magnetized target fusion and other emerging reactor concepts
• Advanced superconducting magnet technologies
• Fusion fuel cycles and tritium breeding systems
• Radiation-resistant reactor materials
• Heat extraction and electricity generation technologies
• First-of-kind fusion pilot plants

Supporting multiple approaches dramatically increases the chances of achieving commercial fusion within the next two decades.

Building the Fusion Ecosystem

Fusion is not only a scientific challenge — it is also an industrial one.

Developing commercial fusion power requires advanced materials, new manufacturing capabilities, powerful superconducting magnets, and entirely new supply chains.

The Fusion Fund will invest in building the infrastructure needed for a full American fusion industry, including:

National Fusion Testing Facilities

Research centers capable of testing reactor materials, components, and fuel cycles under extreme conditions.

Superconducting Magnet Manufacturing

Domestic production capacity for the powerful magnets required for next-generation fusion reactors.

Fusion Manufacturing Hubs

Regional innovation centers connecting universities, national laboratories, and manufacturers.

Grid Integration Technologies

Systems needed to safely connect fusion power plants to the national electric grid.

Together, these investments will ensure that fusion technology is invented, manufactured, and deployed in the United States.

The Cost of the Fusion Fund

Developing fusion energy at a national scale requires significant upfront investment. But this investment is fundamentally a capital project, similar to building the interstate highway system or the national electric grid.

The Fusion Fund would invest approximately:

$120 billion over 15 years

Proposed allocation:

These investments would create long-term national assets that support the development of an entirely new energy industry.

Financing the Fusion Fund

Because fusion infrastructure is a long-term national asset, it should be financed as a capital investment, not as an annual government expense.

To fund this effort, the United States would issue Fusion Energy Bonds.

These bonds would allow the country to invest immediately in the infrastructure needed to accelerate fusion development while spreading the cost over time.

Fusion Energy Bonds would be repaid through a small surcharge on electricity consumption by large corporate users, particularly major industrial facilities, cloud computing providers, and large data centers.

These companies consume vast amounts of electricity and stand to benefit enormously from the arrival of abundant fusion energy.

Under this plan:

• Households would not pay the surcharge
• Small businesses would not pay the surcharge
• Only large commercial electricity consumers would contribute

This ensures that the industries that will benefit most from the future of abundant energy help finance the breakthrough.

Timeline for Fusion Development

The Fusion Fund would operate as a national mission with clear milestones.

Phase 1: National Mobilization (2027–2030)

Launch the Fusion Fund.
Issue Fusion Energy Bonds.
Expand federal fusion research programs.
Construct national testing infrastructure.
Fund multiple competing fusion technologies.

Phase 2: Engineering Demonstrations (2030–2035)

Build prototype fusion reactors.
Demonstrate sustained fusion reactions producing net energy.
Construct the first American fusion pilot plants.
Establish regulatory frameworks for commercial fusion power.

Phase 3: Early Commercial Deployment (2035–2045)

Bring the first commercial fusion power plants online.
Scale domestic manufacturing of reactor components.
Integrate fusion power into the national electric grid.
Position the United States as the global leader in fusion energy technology.

Why Fusion Matters

Fusion power is more than an energy technology — it is a platform for economic growth.

Abundant electricity could enable:

• Advanced manufacturing expansion
• Artificial intelligence and computing infrastructure
• Large-scale desalination and water systems
• Lower long-term energy costs
• Reduced dependence on fossil fuels

Fusion energy could become one of the most transformative technologies of the century.

The countries that lead in fusion will shape the global energy economy.

America should be first.

A New American Energy Mission

Great nations build great things.

In the past, America led the world in the great technological missions of the modern era — from splitting the atom to landing on the moon.

Now we face a new challenge: harnessing the power of the stars.

With bold leadership and sustained investment, the Fusion Fund can launch the next great American mission.

Because the truth is simple:

The country that harnesses the power of the stars will power the world.