Inflation Reduction Act of 2022

The Inflation Reduction Act of 2022 invests more than $400 billion in US spending on a range of climate change, healthcare, electric vehicle, and prescription drug pricing initiatives through a series of tax breaks and capital deployment. Among its most significant features, the act includes $369 billion dedicated to climate action through restructuring the eligibility and applicability of many clean energy tax credits. With a novel structure for the monetization of existing and new green technology tax credits, the Inflation Reduction Act and earlier federal legislation are poised to make substantial changes in climate change mitigation actions.

RECENT UPDATES

02/11/2025 - US Administration Signals Potential Changes to Inflation Reduction Act Drug Price Negotiations
In what appears to be a response to manufacturer complaints regarding “black box” Inflation Reduction Act (IRA) drug price negotiations, the US administration issued a statement on January 29, 2025, stating it planned to consider “opportunities to bring greater transparency” to the negotiation process. Manufacturers assert that greater transparency requires the Centers for Medicare and Medicaid Services (CMS) to adopt a more formulaic approach to price negotiations, where each statutory negotiation factor is assigned a weighted value that CMS must use when negotiating prices.

01/17/2025 - 5 Automotive Topics to Watch When Trump Takes Office, Automotive Dive
Levi McAllister, and Katie Hilferty, and Casey Weaver were quoted in Automotive Dive, providing insights on key issues facing the automotive industry as President-elect Trump prepares to take office, including tariffs, trade agreements, and vehicle emissions standards.

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