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Dec 20 - President-elect Donald Trump has vowed to repeal Joe Biden's signature climate bill called the Inflation Reduction Act, which initially aimed at some $400 billion in new spending and tax cuts and credits at accelerating America's transition to a green energy economy.
Trump advisers, meanwhile, have made a series of recommendations already that the Trump administration is expected to consider. Here's how industries and consumers could be impacted.The IRA provided $14.2 billion in incentives for purchasing emissions-free vehicles, such as electric vehicles, with income limits, and for installing alternative fueling equipment. It also created $2.9 billion in loans and grants for hybrid, electric and hydrogen cars.
Aviation officials fear the rollback of green jet fuel credits and the Biden administration has yet to finalize the rules for the credits and may not before Trump takes office on Jan. 20.The IRA created $62.7 billion in new tax credits for emissions-free electricity sources and storage, including wind, solar, geothermal and advanced nuclear and extended $51.
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