President Donald Trump signed an executive order halting federal spending under the Inflation Reduction Act (IRA), calling for an immediate review of grants, loans, and subsidies tied to clean energy initiatives. Labeling the IRA as the “Green New Scam,” Trump directed agencies to reassess funds allocated to projects like electric vehicles, renewable energy, and hydrogen infrastructure.

The move aligns with Trump’s campaign promise to rescind unspent IRA funds and redirect them toward offsetting planned tax cuts. However, clawing back committed funds may prove challenging, as agencies like the Energy Department and EPA have already disbursed significant portions of the allocated $170 billion.

Trump’s order also terminated Biden’s American Climate Corps program and instructed the EPA to consider eliminating the "social cost of carbon" metric, signaling a pivot away from climate-focused policies toward prioritizing fossil fuel energy.

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