Date: 02/13/2025
Type: Rollback of IRA
On February 13, 2025, EPA Administrator Lee Zeldin announced plans to attempt to rescind $20 billion in funding ($14 billion National Climate Investment Fund and $6 billion Clean Communities Investment Accelerator) already disbursed to eight nonprofits via the IRA’s Greenhouse Gas Reduction Fund. Reported by Politico, Zeldin challenged the Biden administration’s decision to transfer funds to CitiBank, done pursuant to Congress’ intent to “mobilize private capital” through the IRA.
The Greenhouse Gas Reduction Fund is authorized by IRA section 60103, appropriating $27 billion to EPA to establish the fund.