Tax Details and Analysis of the Inflation Reduction Act of 2022
On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 2022 into law. The bill was passed by Congress after a 220-207 vote in the House on August 12, 2022. This followed passage in the Senate on August 7, 2022 by a vote of 51-50, with Vice President Kamala Harris casting the tiebreaking vote.
The Act provides investment in clean energy, promotes reductions in carbon emissions, and extends popular Affordable Care Act premium reductions.
Topics covered include:
- Return of Corporate AMT
- New Excise Tax on Stock Repurchases
- Extension of ACA Premium Reductions
- Massive Expansion and Extension of Green Energy Incentive
- Plus more
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