President Trump announced $700 million in funding for coal plants, energy infrastructure, and coal export infrastructure during an Oval Office gathering on June 4, 2026, attended by cabinet secretaries, governors, and congressional representatives. Energy Secretary Chris Wright, Interior Secretary Doug Burgum, and EPA Administrator Lee Zeldin were present. Trump described the coal funding as historic action to lower energy prices and cost of living, and presented the investment as necessary for electricity affordability and reliability. He invoked Winter Storm Fern as evidence that coal remains indispensable for electricity reliability.

A separate account reports Trump announced $625 million in coal funding, though both figures are presented as the announced amount without clarification on discrepancy. Trump promised to lower electricity bills within 18 months of reentering office.

According to reason.com, the $700 million includes $350 million to modernize outdated coal power plants or recommission closed ones, and up to $175 million for coal power projects in rural communities. The same source reported that the Interior Department directed the opening of 13.1 million acres of federal land for coal mining at lower royalty rates, and that the Environmental Protection Agency announced it would roll back several Joe Biden-era regulations on coal plants, claiming the rollback will save consumers $200 million. reason.com also reported that wholesale energy prices in areas near data hubs have jumped 267 percent since 2020, and that Trump’s coal funding announcement was accompanied by the Interior Department directive.

According to cnn.com, Trump unveiled a new presidential aircraft donated by Qatar, featuring a red, white and blue color scheme, which will temporarily replace the iconic light blue Air Force One design. Trump said the wood paneling on the aircraft is the highest quality and that the flag on the tail is 'waving just right.'