newsThe Inflation Reduction Act isn’t completely safe from Trump, but with limited support from congress, the incoming President has little power to reverse it.
With the weeks ticking down before he leaves the White House, U.S. President Joe Biden’s administration is picking up the pace on clean energy financing, while getting serious about blocking tens of billions of dollars in export financing for oil and gas that could instead be diverted to the energy transition.
“Crossing the milestone of $100 billion awarded shows just how quickly we’re getting these funds out the door and into communities so they can make a real difference for the American people,” Biden’s senior advisor for international climate policy, John Podesta, told Reuters.
The wider commitment of IRA dollars will make it harder for Trump to roll back Biden’s energy efficiency and renewable energy investments, as he has vowed to do, a senior administration official told the news agency.
“When funds are obligated, they are protected,” the official said. “They are subject to the terms of the contract, so when those contracts are signed and executed, this becomes a matter of contract law more than a matter of politics.”
Read the full post at The Energy Mix.
