Lasting effects of President Joe Biden’s green policy agenda still have yet to be seen, Energy Secretary Jennifer Granholm said this week, indicating that the Trump administration will be able to take credit for some of the expected economic growth.
In an interview with the Financial Times published Friday, Granholm revealed that she believes many of the effects of the Biden administration’s energy agenda will not be felt for at least another year.
This includes projects, jobs, manufacturing advancements, funding, and more authorized through legislation such as the Democratic-passed Inflation Reduction Act and the bipartisan Chips and Science Act. These legislative packages have been estimated to have led to nearly $400 billion in investments by companies in clean tech and semiconductor manufacturing, which could entail the addition of 135,000 jobs. However, it will still take time to see those returns.
“I think we were a year early, almost, to be able to see” the impact, Granholm told the outlet. “The notion of feeling it, seeing steel on the ground, seeing people being hired, it’s still a little early.”
The secretary added that while nearly 950 factories have announced they are planning to expand or build as a result of the spending, they are still announcements and not ribbon-cutting events.
If Granholm’s timeline is accurate, this means many of the job creation, factory completion, and manufacturing booms will be seen during the next Trump administration.
“Trump is going to come in at a time when all of that’s going to happen, and he’ll be able to take credit for a lot of that,” she said.
The secretary went on to praise President-elect Donald Trump and his team, saying they had it “right” by paying attention to voters in rural, blue-collar regions heavily affected by factory closures.
“When people start to see factories go up, that makes a huge difference,” she said. Granholm indicated that the Democratic Party’s failure to engage with these communities helped lead to their demise in the November election.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
With less than 40 days remaining before Trump returns to office, the Republican is expected to issue a wave of orders walking back numerous green initiatives pushed by his predecessor. Trump is expected to reverse the Biden administration’s pause on permit approvals for new liquefied natural gas export projects, halt funding for offshore wind, end subsidies for electric vehicles, and more.
He has also vowed to issue major cuts to the IRA, a long-standing goal of many Republicans in Congress. Still, many provisions of the law are expected to be maintained because they have benefited districts represented by Republicans in Congress.