The 2024 Inflation Reduction Act

The 2024 Inflation Reduction Act. Those savings kicked in last year as part of the inflation reduction act, a. Biden signed the landmark inflation reduction act, which provides nearly $400 billion to support clean energy and address climate change, including $8.8 billion for the home energy rebates.

When the law, known as the inflation reduction act, was approved in 2022, analysts predicted that it would help cut america’s greenhouse gas emissions roughly 40 percent below 2005 levels by. The inflation reduction act allows a maximum credit of $7,500 per new clean vehicle, consisting of $3,750 in the case of a new vehicle that meets certain requirements relating to applicable critical minerals and $3,750 in the case of a new vehicle that meets certain.