Action Alert – House passes senate budget deal

August 12, 2022

Action Alert – House passes senate budget deal

Today the House passed the $740 billion Inflation Reduction Act by a vote of 220 to 207. The legislation was approved by the Senate on Sunday by a vote of 51-50 and now heads to President Biden for his signature. As reported in our Tuesday letter to the ACEC membership, the bill includes new taxes on certain businesses and has an extensive section on energy and climate change, including extension and revision of production tax credits, new incentives for renewable energy investments, and measures aimed at energy efficiency and reducing emissions. There was also a commitment from Senate leaders to separately pass energy infrastructure permitting reforms.

ACEC will continue to provide information to our members as we assess the industry impacts of this legislation.

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