EPA chief seeks to claw back $20 billion in climate funding

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EPA chief seeks to claw back $20 billion in climate funding

//business-finance.news-articles.net/content/202 .. -to-claw-back-20-billion-in-climate-funding.html

Published in Business and Finance on Friday, February 14th 2025 at 15:20 GMT by

Reuters

The U.S. Environmental Protection Agency (EPA) Administrator Michael Regan has proposed a significant reduction in climate funding for the fiscal year 2025, aiming to cut approximately $20 billion from the Greenhouse Gas Reduction Fund. This fund, established under the Inflation Reduction Act, was intended to finance clean energy projects in disadvantaged communities. The proposed budget would reduce the EPA's total funding to $7.4 billion, a decrease of 20% from the previous year. This move has sparked concerns among environmental groups and Democratic lawmakers, who argue that such cuts would undermine efforts to combat climate change and support clean energy initiatives. The EPA's budget proposal also includes a reduction in funding for the Superfund program, which deals with hazardous waste site cleanups, and other environmental justice programs. Critics fear this could lead to a rollback in environmental protections and hinder the transition to a cleaner energy economy.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/environment/epa-chief-seeks-claw-back-20-billion-climate-funding-2025-02-13/ ]

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