Trump's Allies Face a Climate Catch-22 with Biden's IRA

Despite Donald Trump's intentions to dismantle President Biden's climate subsidies, many of his allies and fundraisers benefit significantly from these incentives. They hold substantial stakes in clean energy projects that rely on the Inflation Reduction Act (IRA), raising questions about potential intra-party conflicts.

Donald Trump has vowed to eliminate President Biden's climate subsidies, yet many of his closest associates are reaping benefits from these investments in clean energy technologies.

Reuters reports that at least seven of Trump's allies have substantial holdings in companies benefiting from the Inflation Reduction Act's tax incentives. Jared Kushner, Harold Hamm, and Howard Lutnick are among those with significant stakes.

These investments highlight a complex dynamic within Trump's circle, as some may advocate for preserving Biden's climate initiatives to benefit from these incentives, signaling a potential clash if Trump wins the next election.

(With inputs from agencies.)