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How Trump’s election could affect the startup-friendly Inflation Reduction Act
While Trump's administration is unlikely to be supportive of certain climate tech startups, it will have a harder time ending the broadly popular law.
President-elect Donald Trump spent plenty of time on the campaign trail railing against key portions of the Inflation Reduction Act, from solar and wind tax credits to electric vehicles and environmental justice initiatives. The Inflation Reduction Act, enacted in 2022, ushered in a range of tax credits and incentives aimed at reducing carbon pollution in the U.S. and attracting climate-friendly industries to the country. Batteries destined for EVs and grid-scale storage have arguably benefitted the most: Investors have bet $110 billion on the space to date, according to Benchmark Mineral Intelligence.
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