'Big beautiful clean coal': Trump uses Cold War-era act to aid coal industry with $700M investment

President Donald Trump announced a nearly $700 million federal support package for the coal industry, using emergency powers under the Defense Production Act to help keep coal-fired power plants operating and expand coal exports. Trump said the administration will use authority under a Cold War-era national defense law to support more than a dozen coal plants across the country and help build new coal plants in multiple states, including West Virginia and Alaska. "Today, we're taking historic action to bring down the price of energy and the cost of living for all Americans with the power of clean, beautiful coal," Trump said when describing his plan during a news conference on Thursday. "As a result of the $700M investment that I'm announcing today, we will protect 14 coal plants and 42 coal mines, and build 2 new coal plants and one massive new export terminal," he added. "These actions will support over 14,000 jobs and save the American people $50B in electricity costs." The money will also help restart a shuttered coal-fired power plant in Maryland and support construction of a long-delayed coal export terminal in Oakland, California. _______________ Stay up to date with our social media: WWMT on Facebook:   / wwmtnews   WWMT on Twitter:   / wwmtnews   Subscribe to WWMT on YouTube:    / @wwmtnews   WWMT Daily News Digest:    • WWMT-TV Daily Digest   For more information, visit https://www.wwmt.com/ Have a news tip? Send it directly to us: Email us: [email protected] Call the Newsroom: 800.875.3333 WWMT is a MI based station and a CBS Television affiliate owned and operated by Sinclair Broadcast Group. Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the country today. #WWMT #NEWSCHANNEL3 #Kalamazoo #Michigan