Trump Plans to Dismantle Biden’s Climate Law. It Won’t Be Easy

President-Elect Donald Trump will be empowered by Republican gains on Capitol Hill to pull back portions of the Democrats’ signature climate law he calls “the green new scam,” which devoted hundreds of billions of dollars to subsidizing emission-free energy.

Just don’t expect a wholesale repeal of the Inflation Reduction Act.

“We are not looking at immediate, drastic, apocalyptic changes overnight,” said James Lucier, managing director at research group Capital Alpha Partners. “But there is always a strong likelihood that some parts of the IRA are going to be capped or phased out.”

The IRA fused climate policy with industrial policy, subsidizing electric vehicle ...