Cleaner Tech

How Trump Could Turn a $400 Billion Green Bank Into a Fossil Fuel Lender

The program that helped Tesla become a powerhouse has grown under President Joe Biden. But it risks languishing — or shifting gears altogether — if Donald Trump regains the White House.

Former US President Donald Trump during a campaign event.
Photographer: Emily Elconin/Bloomberg

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By Ari Natter and Michelle Ma

September 9, 2024 at 10:00 AM UTC

This article is for subscribers only.

The US government’s green bank was once marked for death under former President Donald Trump’s administration. But the office survived and flourished under President Joe Biden, with its lending authority swelling to $400 billion for carbon-cutting technologies.

Now, if Trump wins the White House for a second term, some in his inner circle say he may opt to use the lending program to fund fossil fuel and other energy projects favored by Republicans.