Key facts
- Trump administration to channel nearly $700 million into U.S. coal industry.
- Funds will be distributed under the Defense Production Act.
- $425 million will go to 13 existing coal plants.
- Funds will also finance new construction and an export terminal.
- The Korean War-era statute is being invoked to support the industry.
The Trump administration is preparing to allocate nearly $700 million in federal funds to the U.S. coal industry. This action, scheduled for Thursday, will utilize the Korean War-era statute known as the Defense Production Act. The funds are intended to support existing coal power plants, finance new construction projects, and facilitate the opening of a California export terminal that has faced opposition for nearly two decades. A substantial portion of the funding, $425 million, will be distributed to 13 existing coal plants located in West Virginia, Kentucky, North Carolina, Indiana, Tennessee, Arkansas, Arizona, Oklahoma, North Dakota, and Wisconsin. An additional $75 million is also allocated for other unspecified purposes within the coal sector.