The inflation reduction act: there’s a lot to celebrate!

Powering Progress

Read about this sweeping legislation and please share. Most people don’t know much or anything about what’s in this bill. Let’s spread the word!

This legislation, signed into law in August, 2022, features the largest climate initiatives in history, along with significant healthcare savings for everyday Americans. It also funds the IRS to provide much better customer service and technology upgrades along with tax law enforcements for wealthy Americans and corporations. This bill will save millions of Americans thousands of dollars.

Key Components

  • The IRA includes historic investments in clean energy tax credits that will encourage the development of carbon-reducing infrastructure and move toward a 40% emissions reduction from 2005 levels by 2030.
  • Credits and subsidies for technologies including renewable electricity, hydrogen, clean vehicles, carbon capture and sequestration, and nuclear power will be extended by 10 years to 2032.
  • The bill will also incentivize the creation of clean energy jobs, lower energy bills by $500 to $1,000 each year, and invest in disadvantaged communities bearing the cumulative impacts of environmental injustice.
  • This bill saves millions of Americans hundreds of dollars each year in health care costs

Every household in America will benefit. Whether it’s ushering in a clean energy future, creating millions of good-paying union jobs, or keeping money in the pockets of our hard working families, the federal government is solving big problems and building a better future for generations to come. Here are some of the most exciting things: