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Trump Announces $700M in Coal Plant Grants and Plans for New Facilities Under Defense Production Act
President Trump announced grants to protect 14 coal plants and 42 coalmines while directing construction of two new coal plants and one export terminal.
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President Donald Trump announced Thursday that the federal government will direct $700 million in grants to coal-fired power plants under the Defense Production Act. The funding will protect 14 coal plants and 42 coalmines across the United States, according to the president.
The same package includes plans to build two new coal plants in Alaska and West Virginia and one large new export terminal.
Trump spoke at a press conference where he tied the grants to lower energy prices. “Today, we’re taking historic action to bring down the price of energy and the cost of living for all Americans with the power of clean, beautiful coal,” he said. The Defense Production Act, originally a Cold War statute, allows the president to accelerate industrial output during periods of national need.
The grants will reach more than a dozen existing coal plants, including some equipped to export coal. Trump stated that the investment will also support construction of the two new plants and the export terminal. Grist reported the details of the announcement.
