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Tuesday, 02 August 2022 11:50

Inflation Reduction Act Would Lead to $1,800 in Savings for Average Household, Analysis Finds

Written by Akiko Fujita, Yahoo Finance

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Sweeping climate and health care legislation unveiled by Democrats in late July would lead to significant cuts in energy costs for American households, according to a new analysis.

A report by nonprofit group Rewiring America found the tax incentives included as part of the $369 billion dedicated to climate initiatives in the Inflation Reduction Act would save the average household $1,800 per year on energy bills.

 

“It is a market-tilting level of investment,” Ari Matusiak, the group's co-founder and CEO who was involved with the crafting of the bill, told Yahoo Finance. “The beneficiaries of [this measure] in the long term are going to be all of us on the planet. In the short term, it’s going to be Americans at their kitchen tables realizing savings on a month-to-month basis.”

 

To read more, see Yahoo Finance.