Inflation Reduction Act 2024 Spending Card 2024. The inflation reduction act has already spurred a clean energy boom, contributing to more than $360 billion in private sector clean energy announcements since president biden. With that in mind, here are three provisions of the inflation reduction act that can benefit entrepreneurs and main street businesses when it comes to taxes.
The inflation reduction act was signed into law in 2022 and hasn’t been updated to provide monthly subsidies to people earning below a certain income. For fiscal year 2024, which began october 1, 2023, the inflation reduction act provided $1.65 billion for the environmental quality incentives program (eqip), $754 million.