President Donald Trump is expected to announce a nearly $700 million initiative aimed at supporting coal-fired power plants and a coal export terminal, according to a Bloomberg report.
The proposal would reportedly use powers under the Defense Production Act of 1950 to strengthen domestic energy production as electricity demand continues to rise.
Lawmakers and governors from major coal-producing states, including Wyoming and West Virginia, were invited to the White House for the announcement, the report said.
Trump plans $700 million in new coal support, White House official says https://t.co/jH8ceieWaY https://t.co/jH8ceieWaY
— Reuters (@Reuters) June 4, 2026
The development has placed coal-related investments in the spotlight. According to the report, coal-focused exchange-traded funds and mining companies could attract increased investor attention if the proposal moves forward.
The initiative comes as policymakers examine ways to meet growing power needs driven by industrial activity and expanding artificial intelligence infrastructure.
According to the U.S. Department of Energy, data centers consume significantly more electricity than traditional commercial buildings, increasing pressure on the nation’s power grid.
Trump is expected to formally unveil the proposal during a White House event focused on what he has described as “beautiful, clean coal.”
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