The Trump administration is canceling nearly $30 billion worth of loans for clean energy projects finalized under former President Joe Biden and will revise an additional $53 billion to support President Donald Trump’s energy dominance agenda.
The office said it is restructuring, revising, or completely eliminating over $83 billion in what it described as “green new scam loans and conditional commitments” made under the Biden administration.
The move follows a first-year review of the Biden administration loan portfolio, which was estimated to have around $104 billion in principal loan obligations.
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“Over the past year, the Energy Department individually reviewed our entire loan portfolio to ensure the responsible investment of taxpayer dollars,” Energy Secretary Chris Wright said in a statement.
“We found more dollars were rushed out the door
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