IRA offers consumers up to $10,000 in climate tax relief and refunds.
By The Exchange Team
The IRA is the most ambitious climate spending package in U.S. history. Families that improve their energy efficiency will benefit financially.
The package would invest $369 billion in climate change, energy security, and consumer electricity costs.
These investments are mostly tax breaks and rebates for households and businesses.
The bill extends and tweaks a $7,500 tax credit for new "clean" vehicles like electric cars, plug-in hybrids, and hydrogen fuel cell vehicles.
Major Individual financial factors
The bill creates a used clean vehicle tax credit. Depending on the price, buyers could get $4,000 or 30%.
Homeowners could get tax breaks for clean-energy and efficiency projects. Solar and wind energy tax credits of 30%
The bill offers a 30% tax credit for installing energy-efficient windows, skylights, doors, and water heaters.