ASSOCIATED PRESS • July 4, 2025
The sprawling tax and policy bill that passed Congress repeals a multibillion-dollar green bank for financing climate-friendly projects, and the Trump administration should be allowed to freeze its funding and cancel related contracts with nonprofits, federal officials said in a court filing. The program was created by the 2022 Inflation Reduction Act. But the bill that passed Congress on Thursday would repeal the part of the 2022 law that established the green bank and rescind money that hadn’t already been obligated to its recipients. “Our funds have already been obligated and disbursed. Any effort to claim otherwise is simply a lie to justify illegal attempts to claw back funds intended to benefit communities across the country,” said Climate United Fund CEO Beth Bafford.