Inflation Reduction Act               

Consumers may qualify for up to $10,000 — or more — in climate tax breaks and rebates in the Inflation Reduction Act

By Sohel Yadav

July 22, 2020

– The  Inflation Reduction Act includes thousands of dollars in tax credits  and rebates for consumers who buy electric vehicles, install solar  panels or make other energy-efficient upgrades to their homes

Democrats’ legislation is also expected to have indirect financial  benefits for consumers, saving them an estimated $170 to $220 a year in  electricity costs.

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Some of the specifics won’t be worked out until later, though.

Without the support of a single Republican, Democrats in the U.S. House on Friday gave final passage to a $740 billion piece of legislation that includes historic investments in renewable energy development, a minimum tax on large corporations, and a landmark requirement for Medicare to directly negotiate the prices of a subset of prescription drugs.

Without the support of a single Republican, Democrats in the U.S. House on Friday gave final passage to a $740 billion piece of legislation that includes historic investments in renewable energy development, a minimum tax on large corporations, and a landmark requirement for Medicare to directly negotiate the prices of a subset of prescription drugs.

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