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Clean Electricity Tax Credits in the Inflation Reduction Act Will Reduce Emissions, Grow Jobs, and Lower Bills

Clean Electricity Tax Credits in the Inflation Reduction Act Will Reduce Emissions, Grow Jobs, and Lower Bills

Full Title: Clean Electricity Tax Credits in the Inflation Reduction Act Will Reduce Emissions, Grow Jobs, and Lower Bills
Author(s): Amanda Levin, Jackie Ennis
Publisher(s): NRDC
Publication Date: September 15, 2022
Full Text: Download Resource
Description (excerpt):

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (IRA) into law. The IRA provides $369 billion in strategic investment to promote clean energy and climate justice. It is the strongest congressional climate action plan yet, one that will reduce energy bills, create hundreds of thousands of jobs, spur clean energy innovation, and strengthen domestic manufacturing.

NRDC analyzed the potential energy, emissions, and economic benefits of the IRA’s extension and enhancement of clean electricity credits. To do so, we evaluated a modeled package very similar to the IRA’s final tax package, including the bulk of the IRA’s power-related elements.

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