Donald Trump’s return to the White House has put more than $300bn of potential federal infrastructure funding at risk, US investors said, as they grappled with the scale of his move to unpick Joe Biden’s climate agenda.
Within hours of his inauguration on Monday, Trump signed scores of executive orders rescinding Biden’s policies, including one halting federal disbursements to manufacturers and infrastructure developers.
The funds affected were provided under two of Biden’s signature legislative achievements — the Inflation Reduction Act and bipartisan infrastructure law — and include almost $50bn in Department of Energy loans already agreed and another $280bn worth of loan requests under review, according to Financial Times analysis of the DOE’s loan portfolio.