 Energy & Environment |
Energy & Environment |
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Biden administration enters climate policy endgame |
The Biden administration is sprinting to finalize any unfinished pieces of its climate policy, from fully disbursing Inflation Reduction Act (IRA) funds to getting final regulations out the door. |
© Kiichiro Sato, Associated Press file |
The incoming Trump administration is all but certain to roll back numerous Biden actions, but getting money disbursed makes at least some of Biden's policies more permanent.
In a memo made public this week, White House chief of staff Jeff Zients called on employees to "sprint to the finish line and get as much done as possible for the American people."
He said that while the administration has already awarded 98 percent of the funds it could legally spend through October under several of Biden's signature laws, the president "has directed us to keep up this pace and obligate as much funding as possible before the end of the term."
"Expect more action on high-speed internet funds to states, CHIPS incentives funding, IRA funding, and more," he wrote, referring to the Inflation Reduction Act, which included historic investments to combat climate change. One office that has made headlines recently for doling out climate money is the Energy Department's Loans Program Office (LPO) — which has announced tentative loans worth billions of dollars to bolster production for electric vehicles and power transmission.
These loans, however, are not the only unfinished loan deals the agency still has yet to close. As of Monday, the agency had a total of 19 conditional loan commitments, worth $41.29 billion, still open.
Jigur Shah, director of the LPO, said at a roundtable last week with loan recipients that "I don't think anything has changed based on what we were doing in the past" as far as disbursement.
But he indicated that industry may feel an urge to secure their loans in the wake of the election, adding, "I do think borrowers are more motivated to shorten timelines … which we're happy to respond to." Read more when the story runs tomorrow at TheHill.com. |
Welcome to The Hill's Energy & Environment newsletter, we're Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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How policy will affect the energy and environment sectors now and in the future: |
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Texas Attorney General Ken Paxton (R) is suing companies that have historically made toxic "forever chemicals" or products that contain them, alleging false advertising over their safety. |
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An extremely persistent and highly mobile "forever chemical" byproduct is contaminating many mineral water brands sold across Europe, researchers have found. |
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The Treasury Department's rule for implementing the Inflation Reduction Act's (IRA) renewable energy tax credits will incorporate new language that will provide greater benefits for operations that refine natural gas from organic waste. |
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Branch out with a different read from The Hill: |
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Higher coffee prices could be brewing for consumers as the global coffee market smashed a 47-year record. |
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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How the Resurrected Congestion Pricing Plan Could Die in the Courts (The New York Times) NJ takes new approach to rising sea levels. Some business leaders are outraged. (Gothamist)
Cassidy moves to sell Republicans on carbon tariff pitch (E&E News)
- Musk's politics hadn't seeped into Tesla. Then he axed its eco car of the future. (The Washington Post)
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Two key stories on The Hill right now: |
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Senate Majority Leader Chuck Schumer (D-N.Y.) said Wednesday he's "doing everything" he can to try to pass legislation that would enact some Social Security reforms before Congress ushers in a new class next month. Read more |
| House Republicans want to know whether pharmacy benefit manager (PBM) CVS Caremark violated federal antitrust laws by threatening independent pharmacies to keep them from using money-saving tools outside the PBM's network. Read more |
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You're all caught up. See you tomorrow! |
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