Inflation Reduction Act 2024 Details. The inflation reduction act (ira) provides for the largest investment in clean energy in u.s. When the law, known as the inflation reduction act, was approved in 2022, analysts predicted that it would help cut america’s greenhouse gas emissions roughly 40 percent below 2005.

Starting january 2024, the inflation reduction act expanded the program to cover more drug costs for people with limited resources: The inflation reduction act’s prevailing wage provision incentivizes taxpayers to pay prevailing wages to the construction workers building clean energy projects.