POLITICO Energy How much of Biden’s climate money can Trump touch?
Nov 15, 2024
Jessie Blaeser, a digital journalist at POLITICO specializing in data analysis, discusses the implications of Biden's Inflation Reduction Act and what it means for the incoming Trump administration. She highlights how much funding is vulnerable to repeal, emphasizing the complexities of tracking these allocations. The conversation also touches on a serious winter forecast by the North American Electric Reliability Corporation, raising concerns about potential power shortfalls across various regions. Political strategy and international cooperation are examined in this critical climate dialogue.
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IRA Repeal Uncertainty
- Republicans want to gut the Inflation Reduction Act (IRA), but it's unclear how much money they can actually repeal.
- Key portions of the IRA benefit Republican districts, and it's uncertain how much has been spent.
IRA Funding Breakdown
- The total amount of IRA funds obligated is unknown, despite the White House's Invest.gov tool showing announced awards.
- The IRA has two funding categories: tax credits and appropriations, with the latter being the focus of repeal efforts.
Obligated Funds and EPA Spending
- Obligated IRA funds are likely safe from repeal, but the exact amount is still unclear.
- The EPA has obligated a significant portion of its IRA appropriations, primarily from the Greenhouse Gas Reduction Fund.