Could have been 'far worse': Why Bill Gates is 'just fine' with Donald Trump's Tax Law despite huge cuts in Climate tech
Microsoft founder
Bill Gates
has been a strong advocate of Clean Climate Technologies. Bill Gates has been actively involved in climate technology through his company Breakthrough Energy, which invests in and supports climate solutions. Gates believes that technological advancements and innovation are crucial for achieving significant reductions in greenhouse gas emissions, rather than solely relying on lifestyle changes.
In an interview with Cipher News, Bill Gates spoke about Donald Trump administration's recent legislation, dubbed the 'One Big Beautiful Bill Act,' which significantly scaled back major climate incentives in the U.S. Gates expressed cautious optimism, stating, 'It wasn't quite the evisceration that a complete lack of believing in climate change might have led to.' The law, which Gates noted aligns with President Donald Trump and his Cabinet's dismissal of climate change as a pressing issue, eliminated most federal incentives for established technologies like wind, solar, and electric vehicles.
Tax law could have been far more damaging
However, Gates emphasized that U.S. demand is only a fraction of the global market, suggesting these technologies will continue to develop globally despite the cuts. 'They're still going to happen,' he said. Gates highlighted that the bill preserved tax credits for emerging technologies like geothermal, nuclear fission, and fusion, a move he sees as a mitigating factor. 'The fact that it retained tax credits for newer technologies, in particular geothermal and nuclear fission and fusion,' was evidence, he said, that the legislation could have been more damaging.
Why Breakthrough Energy has cut lobbying efforts
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On Breakthrough Energy's scaled-back policy efforts, Gates revealed he has reduced funding for clean energy advocacy due to his increased focus on global health and the emergence of other climate action leaders. 'I view global health as, in a certain sense, having a lot of urgency because of the dramatic reductions that have been made there,' he said. However, he affirmed Breakthrough's overall success, including its fellows program and venture investments, and indicated he would step in to support advocacy efforts, such as preserving cleantech tax credits, when necessary. 'If I see that that story is not being told well, I'll jump in,' he added.
Discussing TerraPower, the advanced nuclear power company he founded, Gates noted that AI-fueled data centers are driving significant demand. 'The AI data center industry may help us fill up our order book for the first, you know, 10 to 20 units,' he said, explaining that this scale could enable more efficient manufacturing. He added that nearly all U.S. demand for TerraPower is tied to data centers, a point underscored by a recent investment round led by Nvidia's venture arm.
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