READOUT: Deputy Secretary Adeyemo Discusses Unlocking Funding Alternatives of the Inflation Discount Act
Business Opportunities

READOUT: Deputy Secretary Adeyemo Discusses Unlocking Funding Alternatives of the Inflation Discount Act

LOS ANGELES, CA – On Tuesday, Deputy Secretary of the Treasury Wally Adeyemo participated in a roundtable with clear power buyers and operators to debate methods the private and non-private sectors can work collectively to leverage the Inflation Discount Act’s historic local weather investments to speed up and construct a clear power economic system. In line with third-party estimates, the Inflation Discount Act’s clear power incentives are projected to catalyze trillions of {dollars} in personal funding in power provide infrastructure over the following decade. 

The roundtable is a component of a sequence of discussions the Treasury Division has been internet hosting because it solicits enter from the general public to tell its work implementing the Inflation Discount Act. Practically three quarters of the Inflation Discount Act’s $369 billion local weather change funding – $270 billion – is delivered by way of tax incentives, placing Treasury on the forefront of this landmark legislation. 

Within the assembly with stakeholders, Deputy Secretary Adeyemo highlighted how the Inflation Discount Act gives the long-term certainty that buyers and companies have hunted for years; strengthens, secures, and diversifies our clear power provide chains; positions the U.S. to scale current clear applied sciences and drive the event of recent local weather improvements; and gives focused bonus incentives that can drive funding and create alternatives in communities which can be usually missed. 

For the reason that Inflation Discount Act was signed into legislation in August, the Treasury Division has engaged a broad spectrum of labor unions, business representatives, buyers, and different stakeholders to assist inform its implementation of the legislation. It’s reviewing 1000’s of public feedback and has hosted a sequence of roundtable discussions with key stakeholder teams representing hundreds of thousands of employees, 1000’s of corporations, and trillions of {dollars} in funding property, in addition to local weather and environmental justice advocates, community-based organizations, and different key actors which can be vital to the success of the Inflation Discount Act.

For extra data on Treasury’s stakeholder engagement across the Inflation Discount Act’s local weather and clear power provisions, please see: 

August 16, 2022: Treasury Releases Preliminary Info on Electrical Car Tax Credit score Underneath Newly Enacted Inflation Discount Act

October 5, 2022: Treasury Seeks Public Enter on Implementing the Inflation Discount Act’s Clear Vitality Tax Incentives

FACT SHEET: Treasury, IRS Open Public Touch upon Implementing the Inflation Discount Act’s Clear Vitality Tax Incentives

October 26, 2022: READOUT: Stakeholder Roundtable on Clear Energy Era and the Inflation Discount Act

October 27, 2022: READOUT: Stakeholder Roundtable on Local weather Influence, Fairness, and the Inflation Discount Act

FACT SHEET: 4 methods the Inflation Discount Act’s Tax Incentives Will Help Constructing an Equitable Clear Vitality Financial system

October 31, 2022: READOUT: Stakeholder Roundtable on Investor Views on Local weather Change, Clear Vitality, and the Inflation Discount Act

November 3, 2022: Treasury Seeks Public Enter on Further Clear Vitality Tax Provisions of the Inflation Discount Act

November 4, 2022: READOUT: Stakeholder Roundtable on Clear Autos and the Inflation Discount Act

November 23, 2022: READOUT: Deputy Secretary Adeyemo Roundtable with Labor Leaders on the Inflation Discount Act

###