IRA Benefits: EV All about Tax Credits to Consumers & U.S. Automakers.
The Inflation Reduction Act (IRA) was signed into law by President Joe Biden on Aug. 16,2022.
The $370 billion in climate and renewable energy investments made by the IRA, could reduce greenhouse gas emissions in the U.S by up to 43% below 2005 levels, by 2030
The IRA puts the United States within reach of its Paris Agreement promise to reduce emissionsby 50% to 52% by 2030 .
By generating up to 1.3 million new employment and preventing almost 4,500 preventable deaths each year from air pollution, the IRA will enhance the American economy & Health by 2030
The IRA’s 10-year time horizon finally provides the stability the US EV market has lacked, but the million-dollar question is now how quickly the market will adjust.
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