The administration of US President Donald Trump has signalled its intention to claw back some $13bn in unobligated funds initially earmarked under former President Joe Biden’s green investment strategy.
US Secretary of Energy Chris Wright (pictured) said: “The American people elected President Trump largely because of the last administration’s reckless spending on climate policies that fed inflation and failed to provide any real benefit to the American people.”
“By returning these funds to the American taxpayer, the Trump administration is affirming its commitment to advancing more affordable, reliable and secure American energy and being more responsible stewards of taxpayer dollars.”
The move follows on from the Working Families Tax Cut signed into law earlier this year, which directed the Energy Department to “rein in bloated federal spending and expedite the return” of unspent money to the US Treasury.