Biden works to lock in climate and clean energy funding before Trump takes office

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Jack Aylmer Energy Correspondent

By Jack Aylmer (Energy Correspondent), Jake Larsen (Video Editor)

The Biden administration is making final efforts to secure billions of dollars in funding for climate change and clean energy initiatives before President-elect Donald Trump takes office. To date, $74 billion from the Inflation Reduction Act has been allocated to renewable energy, electric vehicles and other environmental projects.

White House officials are working to finalize these commitments to make them harder to reverse. Trump has pledged to rescind any unspent funds, describing the Inflation Reduction Act as the “greatest scam in the history of any country.”

Republican House Speaker Mike Johnson has also indicated plans to reassess climate-related tax credits, labeling them “wasteful.”

While the majority of the legislation’s funding has been allocated, approximately a fifth of its available money, or $20 billion, remains unspent and potentially vulnerable to rollback.

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This includes financing for climate-smart agriculture, home energy efficiency upgrades, conservation programs and coastal community support.

Despite Trump’s expected attempts to curtail parts of the Inflation Reduction Act, experts suggest a complete dismantling of it is unlikely. Over 75% of the bill’s announced spending has occurred in Republican districts, creating thousands of jobs, which has reportedly left some GOP lawmakers hesitant to pursue a full repeal.

Tags: Climate Change, Donald Trump, Energy, Inflation Reduction Act, Joe Biden, Renewable energy, Republicans, Wind energy

[Jack]

THE BIDEN ADMINISTRATION IS WORKING IN ITS FINAL DAYS TO PROTECT BILLIONS OF DOLLARS IN FUNDING FOR CLIMATE CHANGE AND CLEAN ENERGY PROGRAMS BEFORE PRESIDENT-ELECT TRUMP TAKES OFFICE.

SO FAR, THE WHITE HOUSE HAS ALLOCATED 74 BILLION DOLLARS TOWARD THESE INITIATIVES AHEAD OF TRUMP’S INAUGURATION.

THE FUNDING, DRAWN FROM THE INFLATION REDUCTION ACT, IS BEING DIRECTED TOWARDS RENEWABLE ENERGY, ELECTRIC VEHICLES, AND OTHER PROJECTS AIMED AT BENEFITING THE ENVIRONMENT.

OFFICIALS ARE WORKING TO FINALIZE THESE COMMITMENTS, MAKING THEM MORE RESISTANT TO REVERSAL.

MEANWHILE, TRUMP HAS VOWED TO RESCIND ANY OF THESE UNSPENT FUNDS-

LABELING THE INFLATION REDUCTION ACT AS THE “GREATEST SCAM IN THE HISTORY OF ANY COUNTRY.”

REPUBLICAN HOUSE SPEAKER MIKE JOHNSON HAS ALSO INDICATED PLANS TO REEVALUATE CLIMATE-RELATED TAX CREDITS, CALLING THEM “WASTEFUL.”

THOUGH THE MAJORITY OF INFLATION REDUCTION ACT FUNDING HAS BEEN ALLOCATED, ABOUT A FIFTH OF THE BILL’S AVAILABLE MONEY REMAINS-

WITH 20 BILLION DOLLARS STILL UNSPENT AND VULNERABLE TO A POTENTIAL ROLLBACK.

THIS INCLUDES BILLIONS FOR CLIMATE-SMART AGRICULTURE, HOME ENERGY EFFICIENCY UPGRADES, CONSERVATION PROGRAMS, AND COASTAL COMMUNITY SUPPORT.

WHILE TRUMP IS EXPECTED TO TRY AND AXE SOME PARTS OF THE INFLATION REDUCTION ACT-

EXPERTS SAY A COMPLETE DISMANTLING OF THE LEGISLATION IS UNLIKELY.

MORE THAN 75 PERCENT OF ANNOUNCED SPENDING FROM THE INFLATION REDUCTION ACT HAS OCCURRED IN REPUBLICAN DISTRICTS-

CREATING THOUSANDS OF NEW JOBS IN THESE AREAS.

A TREND WHICH HAS REPORTEDLY MADE SOME GOP LAWMAKERS HESITANT ABOUT A COMPLETE REPEAL OF THIS BILL.