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READOUT: Deputy Secretary Adeyemo Discusses Unlocking Investment Opportunities of the Inflation Reduction Act

LOS ANGELES, CA – On Tuesday, Deputy Secretary of the Treasury Wally Adeyemo participated in a roundtable with clean energy investors and operators to discuss ways the public and private sectors can work together to leverage the Inflation Reduction Act’s historic climate investments to accelerate and build a clean energy economy. According to third-party estimates, the Inflation Reduction Act’s clean energy incentives are projected to catalyze trillions of dollars in private investment in energy supply infrastructure over the next decade. 

The roundtable is part of a series of discussions the Treasury Department has been hosting as it solicits input from the public to inform its work implementing the Inflation Reduction Act. Nearly three quarters of the Inflation Reduction Act’s $369 billion climate change investment – $270 billion – is delivered via tax incentives, putting Treasury at the forefront of this landmark law. 

In the meeting with stakeholders, Deputy Secretary Adeyemo highlighted how the Inflation Reduction Act provides the long-term certainty that investors and businesses have sought for years; strengthens, secures, and diversifies our clean energy supply chains; positions the U.S. to scale existing clean technologies and drive the development of new climate innovations; and provides targeted bonus incentives that will drive investment and create opportunities in communities that are often overlooked. 

Since the Inflation Reduction Act was signed into law in August, the Treasury Department has engaged a broad spectrum of labor unions, industry representatives, investors, and other stakeholders to help inform its implementation of the law. It is reviewing thousands of public comments and has hosted a series of roundtable discussions with key stakeholder groups representing millions of workers, thousands of companies, and trillions of dollars in investment assets, as well as climate and environmental justice advocates, community-based organizations, and other key actors that are critical to the success of the Inflation Reduction Act.

For more information on Treasury’s stakeholder engagement around the Inflation Reduction Act’s climate and clean energy provisions, please see: 

August 16, 2022: Treasury Releases Initial Information on Electric Vehicle Tax Credit Under Newly Enacted Inflation Reduction Act

October 5, 2022: Treasury Seeks Public Input on Implementing the Inflation Reduction Act’s Clean Energy Tax Incentives

FACT SHEET: Treasury, IRS Open Public Comment on Implementing the Inflation Reduction Act’s Clean Energy Tax Incentives

October 26, 2022: READOUT: Stakeholder Roundtable on Clean Power Generation and the Inflation Reduction Act

October 27, 2022: READOUT: Stakeholder Roundtable on Climate Impact, Equity, and the Inflation Reduction Act

FACT SHEET: Four ways the Inflation Reduction Act’s Tax Incentives Will Support Building an Equitable Clean Energy Economy

October 31, 2022: READOUT: Stakeholder Roundtable on Investor Perspectives on Climate Change, Clean Energy, and the Inflation Reduction Act

November 3, 2022: Treasury Seeks Public Input on Additional Clean Energy Tax Provisions of the Inflation Reduction Act

November 4, 2022: READOUT: Stakeholder Roundtable on Clean Vehicles and the Inflation Reduction Act

November 23, 2022: READOUT: Deputy Secretary Adeyemo Roundtable with Labor Leaders on the Inflation Reduction Act

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