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Texas Poised to Lose Billions in Investment if Donald Trump Elected

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Allies of the former president have said he will repeal the Inflation Reduction Act—which would hand Texas $131 billion by 2030.

Texas and other Republican states that benefit disproportionately from the Inflation Reduction Act would lose billions of dollars of investment in their economy were Donald Trump to be re-elected in November and seek to repeal the landmark Biden administration deal.

In 2020, the then-president offered tax credits to entice firms to move their manufacturing bases from China, vowing to 'end our reliance' on the east Asian nation. On the 2024 campaign trail, he has called for jobs to be brought back to America.Newsweek approached the Trump campaign via email for comment on Thursday.

 

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