Politico excerpt: Call it the climate cash that didn’t get away.
Despite President Donald Trump’s pledges to kill Biden-era clean energy spending, a POLITICO analysis has found $600 billion in funding backed by the Inflation Reduction Act and the bipartisan infrastructure law escaped cuts, at least for now.
The surviving funds — more than half of $1 trillion targeted by Trump — are still available though grants, contracts and other direct federal outlays for recipients to spend or agencies to award, as my colleagues Jessie Blaeser, Benjamin Storrow and Kelsey Tamborrino write.
“Why are they keeping it? Because it’s a really important investment in our electricity and energy infrastructure all over the country,” said Heather Boushey, who served on former President Joe Biden’s Council of Economic Advisers.
Even some federal agencies are wavering on spending reductions.
The Department of Energy in April opted to maintain most Biden-era grants, reinstating some funds it had proposed to cut.
Tax incentives, however, have not been as lucky.
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