President Biden’s Environmental Protection Agency, in its final months, executed a financial maneuver of unprecedented scope and speed—one designed to ensure that $20 billion in taxpayer funds would be impossible for the incoming Trump administration to claw back. The mechanism? A deal with Citibank, in which the EPA transferred the massive sum into escrow accounts controlled by eight nonprofit organizations, effectively putting the money beyond reach before President Trump took the oath of office. These funds, drawn from the Inflation Reduction Act’s Greenhouse Gas Reduction Fund, were intended for climate and equity initiatives, yet the recipients bear an unmistakably partisan bent. A closer look at the transaction reveals a deliberate effort to embed Democratic-aligned financial networks deep within the federal apparatus, ensuring that the new administration could do little to reverse the payouts.
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