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 is poised to make substantial changes in climate change mitigation actions.


06/25/2024 - Energy Incentives for Climate-Friendly Hydrogen Fuel Cells Help Transform Transportation, Reuters
Partner Pam Wu authored an article for Reuters discussing the growing integration of hydrogen and fuel cell technologies in various industries, as part of their decarbonization efforts.

05/22/2024 - Elective Safe Harbor Released for IRA Domestic Content Tax Credit ‘Adder’
The US Department of Treasury and the IRS on May 16 released Notice 2024-41, which provides a new elective safe harbor that taxpayers may use to qualify for the domestic content bonus credit amount under Sections 45, 45Y, 48, and 48E of the Internal Revenue Code. Released over one year following earlier guidance, the Notice is likely to provide more certainty for taxpayers seeking to qualify for the domestic content bonus credit amount with respect to certain solar and onshore wind projects.

February 2024 - The Trends—and Traps—That Will Shape 2024
Over the course of 2024, the business world can anticipate an increasingly more complicated corporate environment. Read our high-level overview of some major trends and regulatory and legislative developments that are on the horizon.

01/30/2024 - Decarbonization Trends and Regs Are Shifting Corporate Priorities, Bloomberg Law
In a Bloomberg Law Insight, partners Casey August, Jane Accomando, and Levi McAllister examined developments on carbon emission reduction and reporting that will likely shape how US companies approach sustainability goals in 2024 and beyond.

01/25/2024 - Parsing Treasury's Proposed Clean Hydrogen Tax Credit Rules, Law360
Partners Casey August, Douglas Hastings, Kenneth Kulak, and Mark Lazaroff, and associates Andreas Andrews and Jared Sanders co-authored a Law360 Expert Analysis discussing the US Department of the Treasury and the Internal Revenue Service’s proposed regulations for the clean hydrogen tax credits under Sections 45V and 48 of the Internal Revenue Code, as enacted by the Inflation Reduction Act.

January 2024 - Innovation, Regulation, and Litigation: The Automotive Industry's Road to 2024
The automotive industry as we know it is rapidly transforming. From the proliferation of electric transportation and technological leaps in vehicle automation to increasingly complex regulations and expanding class action litigation—these developments have brought not only new legal challenges and considerations, but also opportunities for the sector. This report explores the impact of these and other developments on manufacturers, suppliers, and lenders and shared how the industry can adapt to these trends to take advantage of what lies ahead.

01/05/2024 - Treasury and IRS Publish Much-Anticipated Guidance on Clean Hydrogen Tax Credit
The Internal Revenue Service (IRS) and the US Department of the Treasury (Treasury) recently published proposed regulations (Proposed Regulations) setting forth rules applicable to the credit for the production of clean hydrogen and the election to treat clean hydrogen production facilities as energy property under Sections 45V and 48(a)(15) of the Internal Revenue Code (Code) enacted under the Inflation Reduction Act of 2022 (IRA).

01/03/2024 - Unpacking The Proposed Production Tax Credit Regulations, Law360
Partner Casey August and associate M. Jared Sanders co-authored an Expert Analysis for Law360 discussing the Internal Revenue Service and US Treasury Department’s proposed regulations regarding the advanced manufacturing production credit under Section 45X of the Internal Revenue Code, enacted as part of the Inflation Reduction Act of 2022.

12/21/2023 - Investment Tax Credit Regs Could Limit Renewable Gas, Law360
Partner Casey August was quoted by Law360 in an article discussing how recently proposed rules regarding investment tax credits in the Inflation Reduction Act could impact producers of renewable natural gas, a refined form of biogas used for transportation fuel.

12/19/2023 - Living With the IRA’s Wages and Apprenticeships, Project Finance International
Partners Casey August, Russell Bruch, and Laura Neumeister Wright co-authored an article for the 2024 Project Finance International (PFI) Yearbook about the Inflation Reduction Act’s prevailing wage and apprenticeship (PWA) requirements for renewable energy and energy storage projects.

12/18/2023 - IRA’s Advanced Manufacturing Production Credit: IRS Publishes Proposed 45X Regulations
The Internal Revenue Service’s proposed Section 45X regulations, released on December 15, provide US-based manufacturers with much-anticipated guidance for a credit that has been available since the beginning of 2023.

11/28/2023 - Treasury and IRS Publish Long-Awaited Guidance on Renewable Energy Investment Tax Credit
The US Internal Revenue Service (IRS) and US Department of the Treasury (Treasury) released proposed regulations on November 17, 2023 addressing the investment tax credit (ITC) for renewable energy and energy storage facilities, expanding upon and clarifying prior guidance on applying the ITC following the enactment of the Inflation Reduction Act of 2022 (IRA).

9/26/2023 -Biden Administration’s Focus on Unions Extends to OSHA and Inflation Reduction Act Projects
Beyond the recent, precedent-rewriting National Labor Relations Board decisions that have been making headlines, the Biden administration has been furthering its pro-labor agenda through other rulemaking efforts, from the US Department of Labor’s proposed rules updating Occupation Safety and Health Administration onsite inspection guidelines, to the US Department of the Treasury and Internal Revenue Service’s proposed regulations for obtaining clean industry tax credits subject to new requirements that in part encourage collective bargaining agreements.


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