New Tax Credits and More: Notes on the Inflation Reduction Act
As part of the grocery industry, we have all felt the pain of the recent inflation seen in our economy. Like many people, I have looked for the Biden administration’s response to the newest stage of these “unprecedented times.” Well, that response, at least in part, has happened. On August 16, 2022, the president signed into law the Inflation Reduction Act (IRA). The law itself is over 700 pages long, and practitioners from a variety of industries have now had some time to study it. While the bill’s effect on future inflation is indeed questionable, there is no doubt that it mandates the biggest climate-related investment made by the federal government in US history.
