Summary of Tax Incentives in the Inflation Reduction Act of 2022

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.