Trump Announces $700 Million Taxpayer Dollars for Coal Slush Fund
Trump’s forced bailouts of coal have increased utility rates, and now taxpayers will pay to prop up dirty coal power through abuse of Defense Production Act
WASHINGTON, D.C. — President Trump today is expected to invoke the Defense Production Act to direct $700 million taxpayer dollars to the coal industry. The administration will direct $425 million to 13 coal projects across the country through the Defense Production Act, with an additional $185 million in U.S. Energy grants to build two new coal power facilities, and another $75 million in taxpayer funds to build the proposed West Gateway coal export terminal in Oakland, California. In response, Tyson Slocum, director of Public Citizen’s Energy Program, issued the following statement:
“Trump said he doesn’t think about American families’ economic hardship when he makes policy decisions. Today’s announcement of a $700 million coal slush fund is another example of Trump ignoring the affordability crisis to force ratepayers and taxpayers to shell out their money to support Trump’s failed energy policies. Abusing emergency authorities to justify subsidies for coal is a waste of taxpayer dollars and a clear giveaway to an absurdly outdated, expensive and dirty fossil fuel. Market monitors have characterized some of these projects as ‘not just uneconomic but extraordinarily uneconomic.’
“Trump’s stupid policy decisions have created one of the worst energy affordability crises in American history. Using taxpayer and ratepayer money to bail out ancient coal power plants, accelerating LNG exports that raise domestic prices, canceling hundreds of clean energy projects and waging an illegal and inane Iran war have led to a domestic energy affordability crisis for working families.”
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