Follow the Money: The $622 Billion Question
Did the Infrastructure Investment and Jobs Act, CHIPS and Science Act, and Inflation Reduction Act survive a year under Trump? A new tracker shows where the money went — and where it didn't.
More than $622 billion. That’s the total value of grants, cooperative agreements, direct payments, and other financial assistance allocated under President Biden’s Investing in America Agenda — a once-in-a-generation program to rebuild America’s infrastructure, reshore semiconductor manufacturing, and accelerate the clean energy transition. This money was also intended to spur the creation of millions of good, union jobs.
A year into the Trump administration, over half of the funds haven’t moved and many of the promised jobs have not materialized.
Out of $622 billion in committed funds, $27 billion has been canceled and only $280 billion has actually reached projects on the ground. Of the remaining $314 billion, $121 billion — nearly one in five dollars that Congress appropriated and the government contractually committed to — is at risk of never making it to the intended recipients. That’s not a projection or an estimate. It’s what the data shows in the Investing in America Funding Tracker, a tool I built to provide a real-time view of where these funds stand: how much has been obligated, how much disbursed, and how much is in jeopardy.
To understand why these numbers matter, it helps to take a look at how we got here and what’s at stake.
The commitment
During the last administration Congress passed three landmark pieces of legislation that together formed the backbone of the Investing in America (IIA) economic agenda. The Infrastructure Investment and Jobs Act (IIJA, also known as the Bipartisan Infrastructure Law) funded roads, bridges, broadband, water systems, and electrical grids. The Inflation Reduction Act (IRA) used a combination of grants, loans, and tax credits to drive investment in clean energy manufacturing, electric vehicles, and emissions reduction. The CHIPS and Science Act provided subsidies and incentives to onshore semiconductor fabrication, reduce dependence on foreign chip supply chains, and spur innovation. By the end of 2024, these three laws were generating hundreds of thousands of jobs and were projected to create millions more over the next decade.
What happened instead
Then Trump took office.
Trump campaigned as a builder, but he has presided over a demolition crew that has dismantled billions in project funding, and left workers, communities, and companies in the wreckage. On his first day in office, Trump signed an executive order directing all federal agencies to immediately pause disbursements under the IRA and IIJA. Days later, the Office of Management and Budget (OMB) expanded the freeze to nearly all federal financial assistance. Within hours of OMB’s directive, tens of thousands of projects across all 50 states were thrown into limbo.
What followed was chaos. At the time of writing 198 lawsuits have been filed challenging the administration’s withholding of funds, with federal courts regularly ruling these actions illegal. The Government Accountability Office also found multiple violations of the Impoundment Control Act. But court orders haven’t reliably meant that the money flowed back to projects — the Supreme Court’s recent ruling against nationwide injunctions has forced affected grantees to litigate individually to recover their funding, a process that can take years.
Meanwhile, the administration has found cynical, if creative, rationales to pause, cancel, or delay payments. The Environmental Protection Agency (EPA) manufactured unsubstantiated allegations of fraud to justify freezing $20 billion in Greenhouse Gas Reduction funds that had already been paid out. More than a year later, those funds remain locked in ongoing litigation.
The administration has also explicitly used funding cuts as a political weapon. When a government shutdown occurred last fall amid standoffs over the administration’s funding actions — the Department of Energy responded by announcing the termination of 223 projects worth $7.6 billion across 16 states. Every one of these states had voted for Kamala Harrisin 2024. (A federal court later ruled that the terminations violated the Fifth Amendment but the future of these projects remains uncertain.)
These actions alone are damaging enough. But they’re compounded by federal agencies hemorrhaging staff responsible for administering these grants, largely through DOGE buyouts and what OMB Director Russ Vought described as an organized campaign to put federal workers “in trauma.” So even when courts order funds released, and even if agencies want to comply, the agencies may lack the personnel to actually administer the grants.
The private sector noticed
Project delays alone can be fatal — paused construction hemorrhages money as skilled workers disperse and private investment partners lose confidence. Companies that invested billions alongside government commitments watched the ground shift and started pulling out of projects. Policy uncertainty triggered a collapse in private clean energy investment. KORE Power abandoned a $1.2 billion battery plant outside of Phoenix. SK On withdrew $2.8 billion and 3,300 jobsfrom Tennessee. Freyr Battery canceled a $2.6 billion factory in Georgia. In total, E2 tracked $34.8 billion in private clean energy investments canceled or abandoned in 2025 — a fourteen-fold increase in the value of cancellations from the prior year.
And despite the administration’s politicization of the funding, Republican districts absorbed the heaviest losses — $19.9 billion and 24,500 jobs, compared to $10.6 billion and 12,600 jobs in Democratic districts.
The human cost
Behind the legal battles, funding freezes, and headlines are real people across the political spectrum who are bearing the cost.
Jack Morris, a Massachusetts fisherman and Trump voter, had taken on part-time construction work on a new offshore wind farm when the Department of Interior issued a stop-work order. “This is not something any of us planned for,” Morris said. “It’s like having the rug pulled out from under you... Nobody understands why Trump did it.” Small farmers in Idaho who had invested in energy upgrades on the promise of federal repayment found themselves waiting indefinitely to be reimbursed. Ironworkers in Alabama lost out on a manufacturing modernization project that would have created jobs and increased productivity.
Communities that have been historically neglected by the federal government have seen some of the deepest cuts. Cody Two Bears, founder of Indigenized Energy and a member of the Standing Rock Sioux Tribe, was granted funding through the EPA’s Solar for All program to complete thousands of solar installations and create jobs in his community. When that funding was canceled last August, Two Bears said: “It was just another broken promise to Native tribes... We were promised opportunity and hope in these communities and for these jobs, and that was taken away by a stroke of a pen.”
Across the country, other communities that had waited generations for investments in clean water, public transit, and reliable broadband are waiting still.
What the data shows
Reporters and advocacy organizations have done essential work tracking the lawsuits, documenting the cancellations, and telling on-the-ground stories. But until now, there has been no single resource that tracks the full scope of the Trump Administration’s impact on the Investing in America agenda — all three laws, all agencies, and all awards.
The Investing in America Funding Tracker covers more than 500,000 awards totaling over $622 billion in federal commitments, filterable by state, county, congressional district, agency, and funding program. Critically, it doesn’t just show what was promised and what has gone out the door — it flags what’s in jeopardy: clawed back funds, canceled projects, delayed disbursements, compressed timelines, and projects where other actions by the Trump administration have put funds at risk.
The top line numbers are revealing. Close to half of what was originally committed has been delivered, and more than half of the remaining funding appears to be proceeding on track. However, nearly $150 billion — almost a fourth of all Investing in America funding commitments — has either been canceled or is at risk.
Most attention to date has focused on cancellations, which have been egregious. More than $27 billion in funding for infrastructure, broadband, green energy, and manufacturing projects has already been canceled.
But the untold story is the $121 billion that’s at risk. These projects haven’t been formally canceled — they are frozen, delayed by political pressure or administrative atrophy. And, as noted, delays can be fatal. Canceled projects make headlines. Money that never shows up doesn’t.
Agencies administering climate-related programs have been hit the hardest. At the Department of Energy, 77% of funding that hasn’t yet reached recipients is at risk — including $9.5 billion for electrical grid infrastructure, $5.2 billion for clean energy demonstrations, and even $1.6 billion for fossil fuel energy research. The EPA is in a similar position: roughly 71% of its $44.2 billion in undelivered funding is at risk, including $14 billion to establish clean financing institutions, also known as green banks. Not every agency has fared as badly. The Department of Transportation, whose funding flows largely to states by formula, has less than 9% of its funds flagged as at risk. But almost every agency — from Agriculture to Homeland Security — has seen projects canceled, delayed, or thrown into uncertainty.
There is much more to say about the state of the Investing in America funding and future posts in this series will dig into these numbers more granularly by examining programmatic, geographic, and political patterns in funding, which communities are bearing the greatest losses, and what the delays and cancellations mean for impacted workers and industries.
In the meantime, see what was promised in your state, county, or congressional district — and what’s in jeopardy — at the Investing in America Funding Tracker.
Questions, feedback, or press inquiries? Reach me at emlynbottomley91@gmail.com.