EPA says Trump’s big bill should help in its fight to take back billions in green bank funds
July 4, 2025
The Environmental Protection Agency says the sprawling tax and policy bill should give it a victory in its fight to freeze billions in funding for a green bank for climate friendly projects. The bill repeals the Greenhouse Gas Reduction Fund, also known as the “green bank,” created under the 2022 Inflation Reduction Act. Federal officials argue in court that this allows the EPA to freeze funding and cancel contracts with nonprofits previously awarded billions to operate the bank. Climate United Fund, one of the nonprofits, disagrees. It clams most funds were already disbursed and unaffected by the repeal. A federal appeals court is now considering the EPA’s appeal of a ruling that partially unfroze the funds.
