Biden’s EPA issued $20 billion in green grants. Now Trump’s administration wants that money back

WASHINGTON (AP) — In a major reversal, the new head of the Environmental Protection Agency said he will try to rescind $20 billion in grants awarded by the Biden administration for climate and clean-energy projects.

In a video posted on X, Administrator Lee Zeldin said the EPA would revoke contracts for a still-emerging “green bank” that is set to fund tens of thousands of projects to fight climate change and promote environmental justice.

The program, approved under the 2022 Inflation Reduction Act, is formally known as the Greenhouse Gas Reduction Fund, but is more commonly called the green bank. Two initiatives, worth $14 billion and $6 billion respectively, are intended to offer competitive grants to nonprofits, community development banks and other groups for projects with a focus on disadvantaged communities.

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