Biden Administration Working to Award All Inflation Reduction Act Funding Before a New President Takes Office in January
The Biden Administration is reportedly working to award all the grants from the SWACCA-supported Inflation Reduction Act (IRA) before a new president takes office next January amid former President Donald Trump’s threats to cancel all of the law’s unspent funds. The Biden Administration has awarded $90 billion in grants to climate, clean energy, and other projects so far under the IRA, which amounts to 70% of the law’s roughly $120 billion in total funding and over 80% of what the law made available before 2025. Another $15 billion could be awarded in the coming months.
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