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

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

Clash over energy projects could threaten government funding bill

By Jacob Bogage  Photo: Jabin Botsford/The Washington Post   09/21/22  

The future is being rewritten by historic green investment

By Justin Worland  Photo: Hassaan Gondal/TIME   09/15/22  

House Dem leaders scramble permitting reform effort

By George Cahling  Photo: Francis Chung, E&E News   09/15/22  

Putin will make people choose between heating and eating this winter

By Thomas L. Friedman  Photo: Etienne De Malglaive/Getty Images   09/13/22  

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

By Heather Richards and Others  Photo: Francis Chung, E&E News   09/12/22  

Manchin’s big energy deal draws pushback from many Dems

By Kevin Freking  Photo: Susan Walsh, AP Photo   09/10/22  

Progressive Revolt Against Manchin’s Energy Side Deal Could Snarl Government Funding

By Jonathan Nicholsan  Photo: Anna Moneymaker, Getty Images   09/10/22  

Dozens of House Democrats urge Pelosi to split permitting from funding bill

By Josh Siegel  Photo: J. Scott Applewhite, AP Photo   09/09/22  

Permitting bill could pass over objections of liberals, activists

By Maxine Joselow and Others  Photo: Craig Hudson, Washington Post   09/09/22  

Sanders blasts permitting reform as Democrats’ divide grows

By Nick Sobczyk and Others  Photo: Francis Chung, E&E News   09/09/22  

The Civilian Climate Corps was dropped from the climate bill. Now what?

By Maxine Joselow and Others  Photo: Bob Wands, AP   09/08/22  

Climate Law a ‘Game Changer’ for Highways and Bridges

By Jane Margolies  Photo: Matthew Defeo, The New York Times   09/06/22  

Gov. Jay Inslee Is Taking a Well-Earned Climate Victory Lap

By David Wallace-Wells  Photo: Ibrahim Rayintakath   08/31/22  

Democrats’ energy permitting gambit ‘fractures’ alliance with environmentalists

By Josh Siegel  Photo: Chip Somodevilla, Getty Images   08/30/22  

US to see renewable energy boom in wake of historic climate bill

By Oliver Milman  Photo: Chip Somodevilla, Getty Images   08/30/22  

The Inflation Reduction Act Is a Huge Win for Climate But Still Falls Short

By Eduardo Garcia  Photo: Busa Photography, Getty Images   08/23/22  

Why the climate bill’s impact might not match what many expect

By Shannon Osaka  Photo: Demetrius Freeman/The Washington Post   08/18/22  

Why the climate bill’s impact might not match what many expect

By Shannon Osaka  Photo: Demetrius Freeman, The Washington Post   08/18/22  

Bill Gates and the secret push to save Biden’s climate bill

By Akshat Rathi  Photo: Getty Images   08/17/22  

Biden’s Historic Climate Bill Needs Smart Foreign Policy

By Jason Bordoff  Photo: Olivier Douliery, Getty Images   08/17/22  

Biden Signs Historic Climate Bill as Scientists Applaud

By Gayathri Vaidyanathan  Photo: Mandel Ngan, Getty Images   08/17/22  

Al Gore on the Inflation Reduction Act: ‘It took so long’

By Maxine Joselow  Photo: Alastair Grant/AP   08/16/22  

Biden signs expansive health, climate and tax law

By Jim Tankersley  Photo: Doug Mills/The New York Times   08/16/22  

Energy provisions in the inflation reduction act

By Robert Rapier  Photo: AFP/Getty Images   08/14/22  

Congress OKs Dems’ climate, health bill, a Biden triumph

By Alan Fram  Photo: Susan Walsh, AP Photo   08/13/22  

House passes sweeping climate, tax and health care package

By Emily Cochrane  By Kenny Holston/The New York Times   08/12/22  

Congress approves Democrats’ climate and health bill, giving Biden a legislative win

By Alan Fram  Photo: Patrick Semansky/associated Press   08/12/22  

As Historic Climate Bill Heads to Biden’s Desk, Young Activists Demand More

By Lisa Friedman and Others  Photo: Jason Andrew, The New York Times   08/12/22  

Climate drama is far from over in Congress — and California

By Sammy Roth  Photo: J. Scott Applewhite/Associated Press   08/11/22  

The long road to the climate bill

By Andrew Freedman   08/11/22  

The Climate Bill Isn’t Perfect, but It’s Still a Major Victory

By Jody Freeman  Photo: Frederic J. Brown, Getty Images   08/11/22  
wsj

Bill to Speed Energy Infrastructure Faces Resistance

By Timothy Puko  Photo: Ting Shen, Bloomberg News   08/11/22  

A victory at whose expense? Climate activists grapple with political compromise.

By Sarah Kaplan  Photo: Chip Somodevilla, Getty Images   08/10/22  

Biden finally has a climate bill. What happens next?

By Dino Grandoni  Photo: Susan Walsh, AP   08/10/22  

5 ways the Inflation Reduction Act would fight climate change

By Denise Chow  Photo: Irfan Khan, Getty Images File   08/09/22  

Why the climate bill’s Senate passage matters

By Ben Geman and Andrew Freedman  Photo: Annelise Capossela/Axios   08/08/22  

After passage of climate bill, long road awaits

By Steven Mufson  Photo: Shuran Huang, The Washington Post   08/08/22  

The Senate finally passed a historic climate bill. Now what?

By Maxine Joselow and Others  Photo: Drew Angerer, Getty Images   08/08/22  

Key Senate vote looms in marathon session on Democrats’ economic bill

By Joan E Grevein  Photo: Stefani Reynolds, Getty Images   08/07/22  

History’s Greatest Obstacle to Climate Progress Has Finally Fallen

By Robinson Meyer  Photo: Mario Tama / Getty   08/07/22  

The Senate has a climate deal. Now comes the hard part

By Sammy Roth  Photo: Brian Van Der Brug, Los Angeles Times   08/05/22  

U.S. wildfire and heat risks to get new spending under Biden plan

By David Sherfinski  Photo: Mathieu Lewis-Rolland, Reuters   08/03/22  

Manchin Touts Democrats’ Climate and Tax Bill, Which Draws GOP Criticism

By Siobhan Hughes and Timothy Puko  Photo: Elizabeth Frantz/Reuters   08/01/22  

Joe Manchin hails expansive bill he finally agrees to as ‘great for America’

By Joanna Walters and Edward Helmore  Photo: Elizabeth Frantz, Reuters   07/31/22  
npr

Climate experts experience an odd sensation after the Manchin budget deal: optimism

By Laura Benshoff  Photo: Eric Lee, Getty Images   07/29/22  

New life for climate legislation

By Ben Geman and Others  Photo: Sarah Grillos, Axios   07/28/22  

Oil, Gas Industry Methane Fee Survives in Manchin Spending Deal

By Ari Natte  Photo: Al Drago/Bloomberg   07/28/22  

U-turn as Manchin agrees deal with Democrats on major tax and climate bill

By Maanvi Singh and agencies  Photo: Elizabeth Frantz/Reuters   07/28/22  

No Republicans signed on in the Senate or in the House

Manchin’s Latest Legislation Would Accelerate Fossil Fuel Projects

By Lauren Leffer  Photo: Francis Chung, E&E News   09/22/22  

Where the new climate law means more drilling, not less

By Lisa Friedman  Photo: Bryan Tarnowski   09/14/22  

Manchin delivered for Democrats. Can they return the favor?

By Theodoric Meyer and Others  Photo: Demetrius Freeman, The Washington Post   08/25/22  

Conceding to Manchin, U.S. climate bill exempts most oil industry from methane fees

By Valerie Volcovici and Nichola Groom  Photo: Shannon Stapleton, Reuters   08/10/22  

How Manchin kneecapped the climate bill’s EV tax credit

By Jael Holzman  Photo: Francis Chung, E&E News   08/08/22  

Manchin’s Donors Include Pipeline Giants That Win in His Climate Deal

By Hiroko Tabuchi  Photo: Melissa Golden, The New York Times   08/07/22  

Joe Manchin’s Price for Supporting the Climate Change Bill: A Natural Gas Pipeline in His Home State

By Ken Ward Jr. and Alexa Beyer  Photo: J. Scott Applewhite/AP Photo   08/05/22  

Manchin Side-Deal Seeks to Advance Mountain Valley Pipeline

By Ari Natter and Erik Wasson  Photo: Al Drago/Bloomberg   08/02/22  

Democrats’ side deal with Manchin would speed up projects, West Virginia gas

By Jeff Stein and Others  Photo: Bill O' Leary, The Washington Post   08/01/22  

What’s in the climate bill that Joe Manchin supports – and what isn’t

By Oliver Milman  Photo: Evelyn Hockstein/Reuters   07/28/22  

The IRA’s Very Specific Impacts on….

Tips on saving money while helping the environment through the Inflation Reduction Act

By Teresa Murray  Photo: Olivier-Le-Queinec, Shutterstock   09/13/22  

Clean energy projects surge after climate bill passage

By Jack Ewing and Ivan Penn  Photo: David Walter Banks/The New York Times   09/07/22  
CAP

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

By Trevor Higgins and Sally Hardin  Photo: Getty/George Rose   08/18/22  

What the Inflation Reduction Act does for green energy

By Isabella Isaacs-Thomas  Photo: David Swanson/Reuters   08/17/22  

Climate law could spur ​‘market transformation’ in home electrification

By Jeff St. John  Photo: Ben McCanna/Portland Press Herald via Getty Images   08/16/22  
VOX

Hidden inside the Inflation Reduction Act: $20 billion to help fix our farms

By Benji Jones  Photo: David Paul Morris/Getty Images   08/16/22  

What inflation – and the Inflation Reduction Act – mean for the clean energy sector

By Kavya Balaraman  Photo: lovelyday12 via Getty Images   08/16/22  

What Experts Say About How Valuable The Inflation Reduction Act’s Green Subsidies Will Be

By Emily Barone  Photo: David Paul Morris, Getty Images   08/12/22  

Ditching Fossil Fuels

By German Lopez  Photo: Tony Cenicola, The New York Times   08/12/22  

Historic climate bill to supercharge clean energy industry

By Ben Lefebvre and others  Photo: Rick Bowmer/AP Photo   08/07/22  

Will Clean Energy Projects Face Troubles That Have Bedeviled Pipelines?

By Jason Bordoff  Photo: Chang W. Lee, The New York Times   07/20/22  

The future is being rewritten by historic green investment

By Justin Worland  Photo: Hassaan Gondal/TIME   09/15/22  

How oil companies could thrive under the climate law

By Mike Lee  By Claudine Hellmuth, E&E News   09/15/22  

‘Transformational’: could America’s new green bank be a climate gamechanger?

By Joan E Greve  Photo: Brendan McDermid, Reuters   09/11/22  

Biden’s big climate bill isn’t a venture capital fund

By Dan Primack  Photo: Annelise Capossela, Axios   09/09/22  

White House policies rescued U.S. economy, Treasury’s Yellen says

By Chelsey Cox  Photo: Jeff Kowalsky/AFP   09/08/22  

Could you get home energy and EV incentives under the climate law?

Alison F. Takemura  Photo: Marcela Gara, Resource Media   08/30/22  

Inflation Reduction Act could curb climate damages by up to $1.9 trillion, White House says

By Emma Newburger  Photo: Drew Angerer, Getty Images   08/24/22  

5 ways the Inflation Reduction Act could save you money

By Abha Bhattarai  Photo: Robb Hill   08/16/22  
NPR

What the Inflation Reduction Act does and doesn’t do about rising prices

By Juliana Kim  Photo: Kevin Dietsch/Getty Images   08/13/22  

Green-ifying your home is about to get lots cheaper

By Alex Fitzpatrick  Photo: Aida Amer, Axios   08/11/22  

The cost of climate action

By Quill Robinson  Photo: Patrick Semansky, AP   08/11/22  
npr

A tax loophole made fund managers rich. Closing it may help pay for the climate bill

By Becky Sullivan  Photo: Anna Moneymaker, Getty Images   08/03/22  

Here’s How the New US Climate Deal Could Make Energy Bills Cheaper

By Zahra Hirji and others  Photo: Dania Maxwell, Bloomberg   07/29/22  

How the climate bill could save you money and change what you buy

By Allyson Chiu  Photo: Brian Snyder, Reuters   07/29/22  

How oil companies could thrive under the climate law

By Mike Lee  By Claudine Hellmuth, E&E News   09/15/22  

Where the new climate law means more drilling, not less

By Lisa Friedman  Photo: Bryan Tarnowski   09/14/22  

Inflation Reduction Act Benefits: Billions In Just Transition Funding For Coal Communities

By Michael O' Boyle  Photo: Benjamin Lowy, Getty Images   08/24/22  

In a first, climate law defines CO2 as air pollutant

By Benjamin Storrow and Others  Photo: Drew Angerer, Getty Images   08/24/22  

5 ways the Inflation Reduction Act could save you money

By Abha Bhattarai  Photo: Robb Hill   08/16/22  

Inflation Reduction Act unlikely to have much effect on inflation, analysts say

By Jim Puzzanghera  Photo: Drew Angerer, Getty Images   08/10/22  

Fighting inflation with climate action

By Manuela Andreoni  Photo: Guglielmo Mangiapane, Reuters   08/09/22  

Can Inflation Reduction Save the Planet?

By Paul Krugman  Photo: Ben Hasty, Getty Images   08/01/22  

Clean energy projects surge after climate bill passage

By Jack Ewing and Ivan Penn  Photo: David Walter Banks/The New York Times   09/07/22  

Climate law may revolutionize US cleantech manufacturing

By Jeff St. John  Photo: Dustin Chambers/Getty Images   08/16/22  

The climate law will help red states. Can it change minds?

By Nick Sobczyk  Photo: Brandon Bell, Getty Images   08/24/22  

State climate action could be supercharged by the Inflation Reduction Act

Analysis by Maxine Joselow  Photo: Philip Cheung/The Washington Post   08/17/22  
By Climate Xchange Staff  Photo: Andy Feliciotti, unsplash   08/06/22  

Biden administration awards funds to 35 states for EV charging networks

By Robert Walton  Photo: Nic Antaya/Getty Images   09/15/22  
wpr

What the Inflation Reduction Act means for electric cars and EV infrastructure

By Lorin Cox  Photo: John Hart/Wisconsin State Journal   08/15/22  

The New Climate Bill Demands All-American EV Batteries

By Aarian Marshall and Others   08/15/22  

For Electric Vehicle Makers, Winners and Losers in Climate Bill

By Jack Ewing  Photo: Kelsey McClellan, The New York Times   08/12/22  

Buy now or wait? What the new electric vehicle credits mean for you.

By Allyson Chiu  Photo: Nate Smallwood/Bloomberg News   08/10/22  

How the EV tax credits in Democrats’ climate bill could hurt electric vehicle sales

By Michael Wayland  Photo: George Frey | Getty Images   08/10/22  

Senate climate deal includes NOAA spending boost

By Andrew Freedman  Photo: Annelise Capossela, Axios   08/03/22