Inflation Reduction Act 2024 Tax Credits. The inflation reduction act and the creating helpful incentives to produce semiconductors act, known as chips, allows taxpayers to take advantage of certain manufacturing investment,. On august 16, 2022, president biden signed the inflation reduction act (ira) into law, marking one of the largest investments in the american economy, energy security, and climate that congress has made in the nation’s history.
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. On august 16, 2022, president biden signed the inflation reduction act (ira) into law, marking one of the largest investments in the american economy, energy security, and climate that congress has made in the nation’s history.
