The Treasury Department has put out initial guidance on the Inflation Reduction Act’s strong labour standards that firms must meet to qualify for enhanced clean energy and climate tax incentives.
The guidance, published in the Federal Register today (30th November), is a first step toward making sure the Inflation Reduction Act supports good-paying jobs in the clean energy industry and expands workforce training pathways into these jobs.
“The historic Inflation Reduction Act that President Biden signed into law earlier this year puts in place tax incentives across the energy sector that will drive renewable energy investment and economic growth while ensuring the jobs created from this investment and growth are good-paying ones, with strong labor protections,” US Secretary of the Treasury Janet L. Yellen said.
The Inflation Reduction Act is the most significant legislation to combat climate change in US history, investing a total of $369 billion to help build a clean energy economy. Nearly three-quarters of that climate change investment – an estimated $270 billion – is delivered through tax incentives, putting Treasury at the forefront of this landmark legislation.
... to continue reading you must be subscribed
