The Inflation Reduction Act of 2022 (the “IRA”) features $260 billion in clean-energy tax credits. While the IRA extends many existing clean-energy tax credits, like the energy production tax credit and investment tax credit for wind and solar, it also establishes new credits, including credits for advanced manufacturing and hydrogen production. Additionally, beginning in 2025,
Inflation Reduction Act Sets the Stage for a National Green Bank
One of the Inflation Reduction Act’s (IRA) notable features is the creation of a Greenhouse Gas Reduction Fund (GGRF). This fund could create a mechanism to quickly disburse up to $27 billion to clean energy technologies, without undergoing the sometimes laborious reviews required by the National Environmental Policy Act (NEPA). IRA § 60103.
Methane Emissions Reduction Program: The Next Step in the United States’ Efforts to Tackle a Potent Greenhouse Gas
The Inflation Reduction Act (IRA) would make significant strides in limiting and cutting methane pollution. Methane has proven to be a significant part of the climate problem; the United Nations’ Environment Programme (UNEP) notes that over a 20-year period, methane is 80 times more potent at warming than carbon dioxide. Studies by the National Oceanic
Environmental Justice Provisions of the Inflation Reduction Act of 2022
The environmental justice provisions included in the Inflation Reduction Act of 2022 (“IRA”) continue the Biden Administration’s commitment to environmental justice. The administration has already demonstrated a consistent desire to build environmental justice into its programs through programs such as the Justice40 Initiative. This initiative directs 40% of the climate change, sustainability, and other
Inflation Reduction Act Shows Strong Support for the Electric Vehicle Sector and Domestic Supply Chains
The transportation sector constitutes the largest source of greenhouse gas emissions in the United States, and the Inflation Reduction Act (IRA) takes significant steps to transition the U.S. vehicle fleet to zero-emissions technology. The proposed legislation takes a multi-faceted approach in doing so: it not only provides incentives for increased consumer use of electric vehicles,
Inflation Reduction Act accelerates efforts to decarbonize the economy and address climate change
If enacted in the coming days, the recently announced Inflation Reduction Act (IRA) could be the most significant step the U.S. has taken to mitigate the worst effects of climate change. In a joint statement, Senators Joe Manchin and Majority Leader Charles Schumer claimed the IRA would “fight inflation, invest in domestic energy production and
Overview of the Inflation Reduction Act
Late on July 27, Sen. Joe Manchin and Senate Majority Leader Charles Schumer announced an agreement on the Inflation Reduction Act (IRA): a reconciliation package that implements prescription drug pricing reform, invests in Affordable Care Act health care subsidies, imposes a corporate minimum tax and improves tax enforcement, and—most relevant for this post—provides $369
A Cautious Approach: the UK Government’s Data Protection and Digital Information Bill
On 18 July 2022, following its recent response to the public consultation on the reform of UK data protection law (see our blog post on the response here), the UK Government introduced its draft Data Protection and Digital Information Bill (the “Bill”) to the House of Commons.
The Bill is 192 pages, and contains
DOT Seeks Additional Stakeholder Input on Build America, Buy America Implementation
On July 28, 2022, the United States Department of Transportation (“DOT”) published a Request for Information (“RFI”) on the implementation of the Infrastructure Investment and Jobs Act’s Build America, Buy America Act (“BABA”). As discussed in our previous post, BABA expanded Buy America preferences to cover all infrastructure projects and sets new domestic content
Seventh Circuit Rejects “Stealth” Class Actions
Can plaintiffs spring a class action on defendants in the late stages of a case? The Seventh Circuit recently answered no in Ali v. City of Chicago, 34 F.4th 594 (7th Cir. 2022), rejecting so-called stealth class actions and reaffirming a seemingly obvious rule: a class action “must be brought as a class action.”