Joe Biden has faded from the public view during his final weeks in office.
But he’s working behind the scenes to do as much damage as possible.
And Joe Biden made one awful move on the way out the door to undermine Donald Trump.
Joe Biden trying to spend as much unspent money as possible
President Joe Biden went on the biggest socialist spending in the history of the country during his lone term in office.
His top political priority has been trying to prop up green energy to fight climate change.
Biden’s $1 trillion Inflation Reduction Act – a slush fund for Green New Deal policies – and other legislation have tens of billions in unspent money.
President-elect Donald Trump has vowed to repeal the Inflation Reduction Act, which he calls the “Green New Scam.”
Trump and Congressional Republicans are expected to try to claw back as much money as possible on green energy spending to help pay for another round of tax cuts.
That’s why Biden is trying to cut as many deals and get as much money out the door before Trump takes office on January 20.
The Department of Energy’s Loan Programs Office is scrambling to finalize loans in the final weeks of the Biden-Harris administration.
Officials are hoping to close the deal on $25 billion worth of loans before Trump returns.
Loans and loan guarantees that still have to be completed include $9.2 billion for electric vehicle battery plants in Kentucky and Tennessee, $1.5 billion for environmentally friendly aviation fuel in South Dakota, and $1 billion to build electric vehicle charging stations.
The Energy Department’s Loan Programs Office is best known for giving a $535 million loan guarantee to solar company Solyndra under former President Barack Obama, which went bankrupt after allegations of corruption.
Green energy companies try to get their mitts on taxpayer money
Plug Power President and CEO Andy Marsh told POLITICO his green hydrogen company is racing to get a $1.7 billion loan deal close with the Biden Energy Department.
“There’s nothing like seeing your own coffin to get you moving faster,” Marsh said.
He said that his company wants to have the deal done before January 20.
“We know that it’s in our best interest to have that resolved by then,” Marsh stated.
The Loan Programs Office has about $400 billion spoken with pending loans or loan guarantees and applications.
All of the money could be on the chopping block under the incoming Trump administration.
Trump tapped energy company CEO Chris Wright to be his nominee for Secretary of Energy.
Wright is an opponent of green energy and the Inflation Reduction Act.
“We cannot let the Inflation Reduction Act enfeeble our energy system,” a paper Wright’s company wrote earlier this year.
Brendan Bell, who worked in the Loan Programs Office under Obama, predicted that the Biden administration would work until the last minute to get money out the door.
When the Trump administration comes in, then all bets are off.
“At the end of the day, the Secretary of Energy signs off on these loans,” Bell said.
Joe Biden’s green energy scheme will take a major hit when he leaves office.
