“My plan will terminate the Green New Deal, which I call the Green New Scam. Greatest scam in history, probably … rescind all unspent funds under the misnamed IRA.”
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On Jan. 20, 2025, Trump signed Executive Order 14154, whose Section 7, titled 'Terminating the Green New Deal,' immediately paused disbursement of Inflation Reduction Act funds; on July 4, 2025, he signed the One Big Beautiful Bill Act, which rescinded the unobligated balances of roughly two dozen IRA climate programs and terminated clean-energy tax credits years ahead of schedule (EV credits ended Sept. 30, 2025). The rescissions reached only unobligated money, however: already-obligated grants continued flowing and wind and solar credits survive for projects meeting safe-harbor construction deadlines, so not literally all unspent IRA funds were rescinded. Trump personally drove the effort through his own day-one executive order and the bill he pressed Congress to pass, delivering most but not all of the pledge.
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