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President Donald Trump intends to use Cold War-era national defense powers to send about $700 million to aid coal facilities.
The announcement may come as early as Thursday afternoon during a White House event focused on what the administration has called "beautiful clean coal."
FILE-President Donald Trump speaks from the Cross Hall of the White House on April 1, 2026 in Washington, D.C. (Photo by Alex Brandon-Pool/Getty Images)
In the past, Trump has implemented several actions to support the industry. The Energy Department issued emergency orders requiring some coal plants to continue operating beyond planned retirement dates, while the Interior Department moved to expand coal leasing opportunities on federal lands, according to FOX Business.
Trump $700 million coal initiative
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President Donald Trump could announce his plan as soon as Thursday and invoke the Defense Production Act, a 1950 law allowing presidents authority over national security-related industries.
Citing a White House official, FOX Business reported that the funding package would furnish over $425 million to improve 13 coal-based plants.
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Approximately $185 million would be allocated for matching corporate funding for coal projects in Alaska, Maryland, and West Virginia, and another $75 million would fund construction of a coal export terminal in Northern California.
Power producers transitioned to low-cost natural gas and renewable sources with concerns of fossil fuel's impact on climate change and growing reliance on global supply chains.
In 2000, coal produced over half of U.S. electricity. Now, it represents less than one-fifth of power generation, according to statistics from the U.S. Energy Information Administration.
The Source: Information for this story was provided by FOX Business and Reuters. This story was reported from Washington, D.C.