Biden Rushes Green Grants Amid Pre-Election Battle

President Joe Biden's administration is racing to allocate climate funding before the upcoming election, fearing Republican rollbacks if Donald Trump wins. The Inflation Reduction Act's clean energy provisions have spurred significant investment but face potential reversals. Federal agencies are working intensely to distribute the funds effectively.

The Biden administration is working at a frantic pace to disburse climate funding ahead of the November 5 election, concerned that a Republican win could reverse key initiatives. President Joe Biden's signature Inflation Reduction Act (IRA) has earmarked substantial funds for clean energy projects, but the future of these initiatives hangs in the balance.

Billions of dollars in climate funding remain unallocated, despite efforts over the last two years. Katie Harris from the BlueGreen Alliance notes the complexities of getting these funds fully committed. Trump, running against Vice President Kamala Harris, has openly criticized the IRA and threatened to rescind unspent funds.

The original $380 billion in clean energy provisions now surpasses $1 trillion due to unexpected tax credit popularity. This has led to significant private sector investments. Despite the tensions, the Energy Department's reports show a surge in clean energy jobs. The Biden team aims to solidify these gains but faces a tight timeline.

(With inputs from agencies.)