The Environmental Protection Agency is seeking to claw back around $20 billion in grant funding approved for climate projects under the Biden administration’s signature Inflation Reduction Act. 

EPA administrator Lee Zeldin announced the move in a video shared on X on Wednesday evening, claiming the funds were “parked” at a financial institution under a “scheme” to rush money to left-wing activist groups without oversight. The funding drew notice late last year when an EPA employee compared the funding to gold bars being thrown off the Titanic.