Biden’s Transition Loan Rush Hits $38 Billion

A rush by the Department of Energy to distribute as many transition loans as possible before Trump takes office has resulted in over $38 billion in loans being issued since the November elections. For context, the total commitments since the passing of the IRA have amounted to $54 billion in loans and loan guarantees. The Financial Times reported the number, noting that some of the allocations rank among the largest in history. By far the biggest is the $15 billion that the Department of Energy’s Loan Programs Office granted to Pacific Gas…