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Summary of Tax Incentives in the Inflation Reduction Act of 2022

August 15, 2022 Category: Policy
Tax incentives in the Inflation Reduction Act

As of August 12, both chambers of the U.S. Congress have passed the Inflation Reduction Act of 2022. Title I, Subtitle D of the Act includes a number of tax incentives that together play a central role in driving greenhouse gas emissions reductions to an estimated 42% below 2005 levels by 2030. Through investments in advanced zero-carbon energy and climate technologies, many of these provisions are also critical to positioning the U.S. economy to meet longer-term 2035 and 2050 decarbonization goals.