How does the United States currently handle the long term storage of high level nuclear waste (spent fuel) from commercial nuclear power?

Please I need two full paragraphs answering the following questions:

Paragraph1:
How does the United States currently handle the long term storage of high level nuclear waste (spent fuel) from commercial nuclear power?
(What ‘was’ the plan, and what is actually being done?)

Paragraph2:
provide an argument for or against the reprocessing of nuclear fuel in the United States. Please cite your references.