The Inflation Reduction Act of 2022

THE INFLATION REDUCTION ACT OF 2022

THE INFLATION REDUCTION ACT OF 2022

On Sunday, August 7, 2022 the Senate – (significantly watered down from the original Build Back Better bill in order to capture the votes of two recalcitrant democrats, Joe Manchin and Krysten Lee Sinema) passed the biggest climate bill the US has ever seen.

On Friday, August 12, the House followed and sent the bill for signature to President Joe Biden.

On Monday, August 16, 2022 the President signed it, handing the pen to Senator Manchin after completion.

Not one Republican voted for it.

On September 13, the White House launched Cleanenergy.gov, a website that explains how consumers can take advantage of the clean energy tax credits in the Inflation Reduction Act. The site provides information on the tax credits that are available for rooftop solar panels, heating and cooling systems, energy efficiency upgrades and electric vehicles. Consumers can also sign up to receive updates about incentives that will become available next year.

The site provides information on the tax credits that are available for rooftop solar panels, heating and cooling systems, energy efficiency upgrades and electric vehicles. Consumers can also sign up to receive updates about incentives that will become available next year. “About half of the energy costs for the average home come from HVAC units," a senior White House official told reporters Tuesday, speaking on the condition of anonymity because they were not authorized to comment publicly. “For the first time, we've got a set of rebates and tax credits that will combine to help us reduce those costs by deploying electric heat pumps all across the country.”

 

*These are rough estimates because of changes to the drug price provisions in the bill after cost and savings estimates were released. Savings from the drug price negotiation policy may end up being lower, and the savings from limits on drug price increases are unofficial estimates based on an analysis by Don Schneider, a former chief economist of the House Ways and Means Committee. Figures are in billions and over 10 years.

KEY RESOURCES

U.S. Greenhouse Gas Emissions Trends and Projections from the Inflation Reduction Act

01/12/23
Millions of discrete sources throughout the United States produce greenhouse gas (GHG) emissions.1 These sources include motor vehicles, electric power plants, industrial facilities, commercial buildings, households, and agricultural activities. Human-related GHG emissions have increased since…

Checklist: How to take advantage of brand-new clean energy tax credits

01/06/23
Whether you need windows, a furnace, a car, or a rooftop solar system, new tax breaks are available through the Inflation Reduction Act to help you save money and go green. The post Checklist: How…

With forests in peril, she’s on a mission to save ‘mother trees’

12/27/22
MALCOLM KNAPP RESEARCH FOREST, British Columbia — Suzanne Simard walks into the forest with a churchgoer’s reverence. The soaring canopies of Douglas firs are her cathedral’s ceiling. Shifting branches of cedars, maples and hemlocks filter…

Treasury Announces Information Timeline for Inflation Reduction Act Tax Implementation

12/19/22
Today the U.S. Treasury Department announced a timeline for providing additional information on key tax provisions of the Inflation Reduction Act. The timeline provides clarity to consumers and businesses, that, beginning January 1, 2023, will…

The Inflation Reduction Act—What it Is and What it Means for EV Adoption

11/02/22
The Inflation Reduction Act of 2022 (IRA) will transform the U.S. energy sector through substantial investments that will lead us to roughly 40% emissions reductions by 2030. The historic passage of this legislation represents the…

It’s time to maximize our electric potential

09/13/22
We want to make adoption of this electric future as quick and seamless as possible, so we’ve built a calculator to help make households aware of how much money they’ll get through the incentives available…

H.R.5376 – Inflation Reduction Act of 2022

08/22/22
This bill imposes an alternative minimum tax of 15% of the average annual adjusted financial statement income of domestic corporations (excluding Subchapter S corporations, regulated investment companies, and real estate investment trusts) that exceeds $1…

Inflation Reduction Act of 2022

08/22/22
AMENDMENT: Strike all after the enacting clause and insert the following: TITLE I—COMMITTEE ON1 FINANCE TITLE I—COMMITTEE ON FINANCE Subtitle A—Deficit Reduction

Environmental Justice (EJ) Provisions of the 2022 Inflation Reduction Act

08/22/22
This table includes provisions with the potential to provide federal benefits to communities with EJ concerns. Direct benefits, where the statute requires benefits to be implemented in or directed towards low-income, tribal, or overburdened communities,…

For leaders abroad, new U.S. law restores climate credibility

08/19/22
The U.S. climate bill signed into law this week restores the country's credibility as a leading player in U.N. climate negotiations, international officials said.

What the U.S. climate law means for the world

08/19/22
The Inflation Reduction Act is a very big deal for the United States. It’s the biggest climate law in the country’s history. It’s a lot of money, nearly $370 billion, for all kinds of tax…

Biden’s Climate Law Is Ending 40 Years of Hands-Off Government

08/19/22
On Tuesday, President Joe Biden signed the Inflation Reduction Act into law. It is no exaggeration to say that his signature immediately severed the history of climate change in America into two eras. Before the…

Biden’s Signing of Climate Law Kicks Off Marathon of Rulemaking (2)

08/18/22
President Joe Biden’s signing of the Inflation Reduction Act on Tuesday caps nearly two years of efforts to pass sweeping climate legislation. But the real work is just getting started. For federal regulators, the moment…

Modeling The Inflation Reduction Act Using The Energy Policy Simulator

08/18/22
On July 27, 2022, the United States Senate released legislative text for the Inflation Reduction Act (IRA), which includes $369 billion in funding for climate and clean energy provisions. These emissions-reducing provisions run the gamut…

Adding it Up: Groundbreaking Federal Investments into Clean Energy Innovation

08/18/22
In the last year, three pieces of legislation have become law (or are poised to soon) that advance clean energy programs and provide funding to get the job done Total clean energy funding contained in…

Federal study: New climate law to slice carbon pollution 40%

08/18/22
Clean energy incentives in the new spending package signed this week by President Joe Biden will trim America’s emissions of heat-trapping gases by about 1.1 billion tons (1 billion metric tons) by 2030, a new…

Summary of the Energy Security and Climate Change Investments in the Inflation Reduction Act of 2022

08/17/22
Both high energy costs, and the growing impacts of climate change, pose a significant burden to every American. The historic investments included in the Inflation Reduction Act of 2022 will bring down consumer energy costs,…

Alternative Fuels Data Center

08/16/22
The Inflation Reduction Act of 2022 (Public Law 117-169) amends the Qualified Plug-in Electric Drive Motor Vehicle Credit (IRC 30D), now known as the Clean Vehicle Credit, and adds a new requirement for final assembly…

A Detailed Picture of What’s in the Democrats’ Climate and Health Bill

08/16/22
Democrats in Congress have had to scale back their legislative ambitions since last year, but the Inflation Reduction Act, passed by the House on Friday and signed by President Joseph R. Biden Jr. on Tuesday,…

What the Inflation Reduction Act Means for Climate

08/16/22
President Joe Biden has signed the Inflation Reduction Act, a bill that will invest $369 billion in climate solutions and environmental justice. The bill will put us on a path to 40% emissions reduction by…

Alternative Fuels Data Center

08/16/22
The Inflation Reduction Act of 2022 (Public Law 117-169) amends the Qualified Plug-in Electric Drive Motor Vehicle Credit (IRC 30D), now known as the Clean Vehicle Credit, and adds a new requirement for final assembly…

By The Numbers: The Inflation Reduction Act

08/15/22
The Inflation Reduction Act will lower costs for families, combat the climate crisis, reduce the deficit, and finally ask the largest corporations to pay their fair share. President Biden and Congressional Democrats have worked together…

Inflation Reduction Act: Agricultural Conservation and Credit, Renewable Energy, and Forestry

08/10/22
On August 7, 2022, the Senate passed what is often referred to as the Inflation Reduction Act of 2022, a substitute to the House-passed Build Back Better Act (BBBA, H.R. 5376). Both bills are budget…

Senate Democrats pass sweeping climate, health care and tax bill; Here’s what’s in it

08/04/22
After hours of debate and votes on a nearly endless stream of amendments, Senate Democrats passed the Inflation Reduction Act, a sweeping climate change, health care and tax bill that delivers on many of the…

Why Congress Must Pass the Climate Bill

07/29/22
Senate Democrats unveiled a bill on Wednesday, July 27, that provides $369 billion in strategic investment to confront the climate crisis in a way that will strengthen the economy, lower costs for our families, and…

Media Coverage…As It Happened

Climate law: What to watch at Interior, FERC and DOE

By Heather Richards and Others   09/12/22  

Sweeping climate bill will push American energy to go green

By Seth Borenstein and Others   08/11/22  

The long road to the climate bill

By Andrew Freedman   08/11/22  

Why the climate bill’s Senate passage matters

By Ben Geman and Andrew Freedman   08/08/22  

New life for climate legislation

By Ben Geman and Others   07/28/22  

No Republicans signed on in the Senate or in the House

Where the new climate law means more drilling, not less

By Lisa Friedman  
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09/14/22  

The IRA’s Very Specific Impacts on….

CAP

5 Major Benefits of the Inflation Reduction Act’s Climate Investments

By Trevor Higgins and Sally Hardin   08/18/22  

Ditching Fossil Fuels

By German Lopez   08/12/22  

The cost of climate action

By Quill Robinson   08/11/22  

In a first, climate law defines CO2 as air pollutant

By Benjamin Storrow and Others   08/24/22  

Scoop: Biden’s EV surprise

By Joann Muller   02/01/23  

The New Climate Bill Demands All-American EV Batteries

By Aarian Marshall and Others   08/15/22