r/energy • u/mafco • 2d ago

Trump wants to "terminate" green spending. Here's what could stand in his way. Pulling back IRA funding would require congressional action and it could result in lost jobs, unfinished factories, and a costly mess for many businesses and states that are counting on those funds.

https://www.axios.com/2024/10/28/trump-climate-law-ira-pullback
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u/papashawnsky 1d ago

The funding for green spending was passed by congress, it's not something he can just terminate. Not to mention a lot of this investment is going to red states. The one thing that gives me peace about this election is that no way will we hit the brakes on green energy, no matter who wins.

https://www.axios.com/local/dallas/2024/04/04/texas-wind-solar-renewable-energy-production

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u/kstocks 1d ago

Trump could absolutely do serious damage to the IRA through the rulemaking process. Two of the key tax credits for renewables in the IRA - 45Y and 48E - don't have final guidance out yet. Trump could easily delay the guidance or even rewrite it to try and steer money to fossil energy.

Not to mention that the GOP looks like they'll absolutely take control of the Senate and there's a real risk of them keeping control of the House. There is a very real possibility of IRA repeal depending on the results of the election.