Donald Trump's inauguration is approaching, and outgoing President Joe Biden is at work trying to protect some of his flagship policies that have been passed in the last four years.
Among them, the Wall Street Journal pointed to the CHIPS and Science Act, which helped increase domestic manufacturing for memory chips built in the United States. One economic expert even warned that if Trump were to kill the Biden program it could cost the U.S. up to $1 trillion.
Another is Biden's landmark investment in clean energy, through a lending program in the Department of Energy.
The DoE is among departments that Republicans demanded to be cut in the 2016 elections. Now Trump is returning, and his allies' "Project 2025" blueprint argues for a roll-back of programs that aid in climate science programs.
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Under the new Trump administration, the Loan Programs Office "could stop making loans from the program." The report said it "was largely dormant during his first term."
There are a number of clean-energy projects happening at ports around the country and the Environmental Protection Agency (EPA) doled out $3 billion to ports to invest in green technologies.
Biden's officials are trying to ensure billions of dollars are being handed out as part of the manufacturing grants in the CHIPS Act and Biden's administration promised to grant Intel up to $7.9 billion. The Commerce Department also has $39 billion in grants under that act. Some of the companies could draw down some of the funds before Trump enters the White House on Jan. 20, 2025.
"Trump advisers have criticized the speed with which the grants are being made," the Journal reported. "Vivek Ramaswamy, a biotech entrepreneur who Trump has assigned to lead the Department of Government Efficiency with Tesla CEO Elon Musk, said on X this week that the external advisory group will scrutinize the contracts."
Biden intends to deliver two big speeches in January before he leaves, officials told the Journal. One will focus on his foreign policy achievements, and the other on his economic legacy, focusing on the infrastructure bill, semiconductors, and climate projects.
