Inflation Reduction Act ties—for the first time—labor mandates as a condition for receiving tax incentives spurring private construction projects.
On August 7, the U.S. Senate passed along party lines the AGC-opposed Inflation Reduction Act of 2022 (IRA), which for the first time ties prevailing wage and registered apprenticeship requirements as a condition for receiving tax incentives spurring the construction of clean energy projects and energy efficient commercial buildings (179D). To help provide some insight on these new requirements and tax incentives, AGC of America put forth an initial analysis found here.
The IRA is expected to pass the U.S. House of Representatives on August 12 with the president signing it into law shortly thereafter. AGC will provide more detailed analysis of this bill soon.
For more information, contact Jim Young at [email protected].
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