The Environmental Protection Agency (EPA) is actively allocating the remaining funds from the $27 billion Greenhouse Gas Reduction Fund (GGRF) before September 30, 2024. This deadline, set prior to the potential change in Congress control, requires the complete expenditure of the funds, or they will be returned to Congress.
As part of President Biden's Inflation Reduction Act (IRA), the GGRF contains a specific spending deadline, added to protect the program from future attempts to recover the funds by Republicans. According to an anonymous Democrat aide, the aim was to swiftly implement the program and safeguard it from potential repeal efforts.
Senator Thomas Carper, chief of the Environment and Public Works Committee, revealed that the EPA urged the expedited allocation of funds to combat global warming before time runs out.
The ideological divide between supporters of "green" energy and proponents of fossil fuels has long been a contentious issue in American politics. Republicans express concerns about programs like the GGRF, arguing that they lack accountability and transparency, potentially leading to overspending, fraud, and abuse.
The EPA recently initiated the "Solar for All" grant competition, allocating $7 billion from the GGRF for solar projects in low-income communities. The agency plans to announce two additional grant competitions in the coming weeks: a $14 billion competition for nationwide deployment of green technology and a $6 billion initiative to assist local banks in financing green projects.
Critics argue that these programs serve as money laundering mechanisms, benefiting politically connected individuals while exploiting the concept of "green" energy. However, EPA spokesperson Tim Carroll assured that all funds would be obligated before the September 2024 deadline, demonstrating the agency's confidence in meeting its obligations.