POLITICO’s examination of the administration’s $1.6T energy and infrastructure programs shows a massive set of initiatives struggling to make headway before the clock may run out on Joe Biden’s presidency.President Joe Biden’s $1.6 trillion effort to green the economy, rebuild infrastructure and return manufacturing to the U.S. is facing a potentially devastating threat in the 2024 election.
The amount that agencies have actually spent is even smaller, between $125 billion and $186 billion, according to POLITICO’s review of federal data. That number is a broad range because no public resource offers a full accounting of formal awards or spending under the IRA. As a result, we’ve included the full scope of funding announced under the IRA in our estimate in order to reflect the maximum amount of spending that could have taken place.
These multibillion-dollar announcements have become a routine staple of the Biden era, often featuring a public appearance by the president or a member of his Cabinet. As of April, the announcements have totaled more than $543 billion, or half of the full value of what Congress appropriated.