Trump admin cancels $30B in Biden-era loans

The Trump administration is canceling nearly $30 billion in green loans enacted under the Biden administration and is revising another $53 billion. 

The Energy Department's Office of Energy Dominance Financing (EDF) said the funds are part of the "Green New Scam loans" from the previous administration.

"Over the past year, the Energy Department individually reviewed our entire loan portfolio to ensure the responsible investment of taxpayer dollars," said Energy Secretary Chris Wright said. 

"We found more dollars were rushed out the door of the Loan Programs Office in the final months of the Biden Administration than had been disbursed in over fifteen years," he added. "President Trump promised to protect taxpayer dollars and expand America’s supply of affordable, reliable, and secure energy."

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