Yahoo Finance

Trump to Boost Coal Industry With $700 Million in New Funding (opens in new tab)

President Trump on Thursday announced that he is invoking the Defense Production Act of 1950 to provide hundreds of millions of dollars in federal support for the coal industry. The Cold War-era law gives the president broad powers to shape key industries involved in national defense and emergency preparedness. Trump’s move makes $500 million available under the DPA to coal mining firms, coal-fired electricity plants and coal exporters, part of a broader effort to boost domestic oil, gas a

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