The Inflation Reduction Act (IRA) introduced, extended or enhanced many green-energy-related tax incentives, including those for electric vehicles and home modifications. There’s been much discussion in Washington regarding the fate of these incentives if the political landscape changes in November. The consensus is there won’t be an outright repeal of all incentives. According to Senate Finance Committee Senior Tax Policy Advisor Alice Lin, several provisions of the IRA enjoyed bipartisan support before its enactment and she expects that “underlying support” to continue. However, if Republicans take control of the White House and Congress, significant revisions could be in play. Stay tuned.
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