Zeldin seeks to recoup 'green bank' climate cash

Energy & Environment

The Big Story

Zeldin seeks to recoup 'green bank' climate cash

Environmental Protection Agency (EPA) Administrator Lee Zeldin says he will try to recoup billions of dollars issued by the Biden administration under its “green bank” program.

Under the program, the Biden administration gave a total of $20 billion to eight institutions that are in charge of doling out the cash to projects aimed at mitigating climate change.

The program was funded by the Inflation Reduction Act, which made the money available for institutions that can provide financial assistance to help deploy climate-friendly products.

Zeldin’s efforts to take the money back mark the latest attempt from the Trump administration to freeze funds for federal programs — despite court rulings calling for the freeze to be lifted.

However, Zeldin’s effort has one notable distinction from other such attempts by the administration: The money in question appears to have already left the government’s hands.

“The financial agent agreement with the bank needs to be instantly terminated and the bank must immediately return all of the gold bars that the Biden administration tossed off the Titanic,” Zeldin said in a video posted online.

“EPA needs to reassume responsibility for all of these funds. We will review every penny that has gone out the door,” he added.

Read more at TheHill.com.

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