President Trump Prepares to Repeal Biden's $400 Billion Climate Bill
U.S. President-elect Donald Trump has threatened to repeal the Inflation Reduction Act signed by Joe Biden, which was initially aimed at accelerating the United States' transition to green energy through $400 billion in new spending and tax cuts and credits.
President Trump Prepares to Repeal Biden's $400 Billion Climate Bill
President Trump Prepares to Repeal Biden's $400 Billion Climate Bill
- U.S. President-elect Donald Trump has threatened to repeal the Inflation Reduction Act signed by Joe Biden, which was initially aimed at accelerating the United States' transition to green energy through $400 billion in new spending and tax cuts and credits.
The Congressional Budget Office (CBO) estimates that the cost could swell beyond $800 billion due to higher-than-expected demand for tax credits; much of the direct funding has already been spent.
Trump has expressed dissatisfaction with electric vehicle (EV) rebates and gas emissions regulations, but it is believed that wind and solar energy projects may not be affected.
