Videos: Breaking Down the Inflation Reduction Act

Articles | December 28, 2023

Over a year ago, President Biden signed the Inflation Reduction Act (IRA) into law — the single largest climate and clean energy investment in American history that is already working to lower energy and health care costs for families, grow our green workforce, incentivize clean energy solutions in nearly every sector of the economy, and channel once-in-a-generation investments in climate-smart agriculture and conservation.

Through the IRA, many working families, small businesses, and communities can receive substantial tax breaks and rebates for making energy efficient improvements to homes, transportation, and more. 

As part of our ongoing series of webinars and in-person events on the IRA, Julie Tighe, president of the New York League of Conservation Voters Education Fund, and Matt Salton, the League’s federal campaigns manager, recently joined with New York State Senator Michelle Hinchey for an informational webinar to share details about the IRA and how households and our communities can benefit. In a separate event, Tighe and Salton joined Assemblymembers Patricia Fahy and John T. McDonald III to discuss the consumer benefits available in the IRA. 

We invite you toview the recording of the webinar with Sen. Hinchey here and with Assemblymembers Fahy and McDonald III here

Here are a few of the IRA resources that were discussed during the webinars:

  • NYLCV’s IRA Benefits Guides: NYLCV has put together several consumer guides that break down specific IRA benefits, including credits for electric vehicles (EVs), utility benefits, and more.
  • Calculate Your IRA Savings: Curious about how much you could save? Use the IRA calculator to estimate your potential savings and discover the incentives you may qualify for. 
  • Credit for Previously Owned Clean Vehicles: If you’re considering the purchase of a used EV, you may be eligible for a tax credit worth 30% of the sale price up to a maximum credit of $4,000.
  • Find a Local Energy Advisor: Income-eligible New Yorker’s can connect with an Energy Advisor to help guide you on how to save money and energy, as well as inform you about the incentives you qualify for. 

We will keep you posted about upcoming educational events on the IRA and other environmental issues. 

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