The Trump administration is moving to ax billions in unobligated funds that were going to support what it terms former President Joe Biden’s “green new scam,” according to the Department of Energy (DOE).
The DOE announced Wednesday that it is working to return $13 billion in unobligated funds to the treasury as part of the Trump administration’s goal to “halt wasteful spending and refocus the department to its core mission.” President Donald Trump campaigned against Biden’s energy policies that he termed the “green new scam” and signed the One Big Beautiful Bill Act, which called for a rescinding of “unobligated funds that were provided by the Inflation Reduction Act for various energy programs.”
“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,” Energy Secretary of Energy Chris Wright said Wednesday. “Thanks to President Trump and Congress, those days are over. 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 Biden-era Inflation Reduction Act (IRA) routed billions to green energy projects as part of Biden’s climate agenda, amassing a trillion-dollar projected price tag. Biden doled out billions in subsidies, loans and grants to wind and solar projects, which the Trump administration has noted they will no longer give “preferential treatment.”
“My Department of Energy has announced that we are going to return over $13 billion dollars to the taxpayers. That’s over 100 dollars per American family,” Wright said Wednesday on CBS Mornings Plus. “This was money passed and slated to be energy subsidies. … But subsidies have been corrosive because they’ve not only cost taxpayer money, but then they’ve led to more expensive electricity bills. We lose twice.”
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