Biden Obligates 99% Of Grant Funding For Projects

The Biden administration has allocated nearly all available funds from President Joe Biden's hallmark climate and economic laws as the White House works to solidify his "Investing in America" legacy before the incoming Trump administration takes office, Joey Garrison reported for USA Today.

Even if funds haven't been disbursed, the Trump administration cannot rescind grants from the CHIPS Act or other laws unless the recipients breach their contracts. I Photo: President Joe Biden Archived Facebook

The federal government has awarded 99% of existing grant funding for clean energy, infrastructure, and manufacturing projects, totaling approximately $750 billion. A 75-page White House report obtained by USA Today details the distribution of funds, which include only those available through the 2024 fiscal year.

In one of his final presidential addresses, Biden highlighted the accomplishments: "New roads, bridges, clean water, affordable high-speed internet for every American.

We also made the biggest investment in fighting climate change ever in the history of the world—not just America."

The grants reflect funding from major spending initiatives with a decade-long impact, including a $1 trillion infrastructure law, $53 billion for microchip companies under the CHIPS and Science Act, and about $400 billion for clean energy projects from the Inflation Reduction Act.

These projects include incentives for manufacturing electric cars, solar panels, and batteries.

Approximately 90% of the awarded grants have been formally obligated, meaning binding contracts with recipients safeguard these projects. Even if funds haven't been disbursed, the Trump administration cannot rescind grants from the CHIPS Act or other laws unless the recipients breach their contracts.