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By Alyssa Sporrer – As its name suggests, the Inflation Reduction Act of 2022 (IRA) signed into law by President Joe Biden earlier this month is designed to reduce inflation, but it also includes $300 billion worth of grants and incentives for clean energy and initiatives to combat climate change.

The goal of the incentives is to accelerate electric vehicle adoption, green ports, increase renewable energy capacity and support products made in the U.S. There are also tax reforms and provisions for health care.

The climate legislation is supposed to help the U.S. lower greenhouse gas emissions by 40% by 2030 compared to 2005 levels.

  1. Incentives for electric trucks

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SOURCE American Shipper

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