Washington DC – On Sunday, August 7, 2022, the United States Senate passed the Inflation Reduction Act (2022) that includes a $369 billion investment in clean energy and climate to put more clean vehicles on the road and secure over a million new good-paying jobs right here in America. The bill is expected to be passed by the House of Representatives in the coming week and signed by President Biden.
The IRA is the most comprehensive and significant piece of federal climate legislation in U.S. history. The bill contains unprecedented incentives to accelerate the adoption of zero-emission transportation technologies that CALSTART strongly supports, including a new tax credit for medium- and heavy-duty zero-emission vehicles, a new production tax credit for battery manufacturing, and enhancements to the light-duty electric vehicle tax credits.
These are huge wins for the transition to clean transportation. John Boesel, CALSTART President and CEO, issued the following statement:
“CALSTART and our over 300 members are making significant investments in clean cars, trucks, buses, infrastructure, and innovative mobility to reduce climate pollution and grow our economy. We applaud the Senate in passing the Inflation Reduction Act of 2022, which includes several CALSTART policy priorities. The Inflation Reduction Act will boost our economy and create good paying jobs while reducing climate pollution by more than 40% from 2005 levels by 2030. This decisive effort by the Senate brings the U.S. closer to President Biden’s goal of reducing pollution and leading in the global fight against climate change.”