On August 16, 2022, the Inflation Reduction Act (IRA) was signed into law by President Biden after passing both chambers of Congress. This summary reflects what is in the final draft of this legislation.

This summary is intended only to provide a quick overview of some key provisions in the Inflation Reduction Act (IRA). As more details emerge, SEIA will publish additional in-depth guides to the enacted provisions for member companies. SEIA is working with member companies to implement these provisions with relevant federal agencies to ensure that the guidance and regulations issued are workable. When agencies issue final guidance and regulations, SEIA will update the detailed guides for member companies. Nothing in this summary should be interpreted as tax or legal advice.

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