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US Administration cuts to clean energy linked to $30.8 billion loss in capital investment
Date posted:
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Post Author
Tracey Biller
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A new report from labour and environment coalition BlueGreen Alliance finds that 139 clean energy and industrial projects cancelled or stalled due to the “One Big Beautiful Bill Act” (OBBBA) represent the loss or delay of at least $30.8 billion in capital investment. A further 84 canceled or stalled manufacturing projects worth at least $52 billion in capital investment bring the total estimated loss to $82.8 billion.
The report, entitled Bait and Switch: The Impacts of Trump Administration Policies at the Intersection of Clean Energy, Manufacturing, and Labor, estimates that the loss of manufacturing and clean energy projects may cost the country 111,765 jobs, including 47,135 manufacturing jobs and 56,959 construction jobs.
The report explores the rollback of policies and investments included in the Inflation Reduction Act and Bipartisan Infrastructure Law, federal agency actions that have pulled funding from clean energy and manufacturing projects, and executive actions attacking workplace safety and health and the right of workers to organize themselves into a union. The BlueGreen Alliance says these actions, which include the EPA’s weakening of the Risk Management Program rules that would have made highly hazardous industries safer, have “unquestionably increased costs for working people, left wages stagnant, and lost jobs and investment across the nation.”
The report was presented at a meeting of labour leaders and Senate Democrats last Tuesday.
