Inflation Reduction Act (IRA)

On August 16, 2022, President Biden signed the IRA into law, marking the most significant action Congress has taken on clean energy and climate change in the nation’s history. With the stroke of his pen, the President redefined American leadership in confronting the existential threat of the climate crisis and set forth a new era of American innovation and ingenuity to lower consumer costs and drive the global clean energy economy forward.

The IRA is aimed squarely at building a better America and delivering on President Biden’s vision to make sure the United States—powered by American workers— remains the global leader in clean energy technology, manufacturing, and innovation. The IRA’s $370 billion in investments will lower energy costs for families and small businesses, accelerate private investment in clean energy solutions in every sector of the economy and every corner of the country, strengthen supply chains for everything from critical minerals to efficient electric appliances, and create good-paying jobs and new economic opportunities for workers.