Trump Administration Signals Major Revisions to Biden's Climate Legislation

President-elect Trump and his team are set to reshape the Inflation Reduction Act, targeting unspent funds and clean energy programs while preserving some tax credits.

• President-elect Donald Trump has nominated key Cabinet members, including Scott Bessent, Chris Wright, and Doug Burgum, who are expected to influence the future of the Inflation Reduction Act (IRA).
• Republicans are unlikely to fully repeal the IRA but may accelerate phase-out dates for tax credits and dismantle specific provisions, such as the $7,500 electric vehicle tax credit.
• The Department of Energy's Loan Programs Office, which supports green energy projects, faces potential cuts or restructuring under the incoming administration.
• Approximately 75% of IRA-funded clean energy investments have benefited Republican districts, complicating efforts to significantly scale back the legislation.
• Despite potential rollbacks, much of the IRA's funding and projects are already entrenched, making a complete reversal legally and politically challenging.

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