Tax credits

The 45L tax credit expired at the end of 2021, leaving homebuilders waiting for its renewal.

The newly signed Inflation Reduction Act contains a wide range of provisions.

House Democrats delivered the final votes needed on a slimmed-down version of their tax, climate and drug price agenda.

Existing and expired energy efficiency tax incentives for commercial and multifamily building owners, investors, developers and homebuilders have been expanded significantly under the act.

After more than a year of stop-and-start negotiations, Democrats agreed to a narrow bill to invest in energy initiatives, curb drug prices and reduce the deficit, paid for by new corporate taxes.

President Joe Biden and Senate Majority Leader Chuck Schumer are the biggest winners now that a huge piece of Democrats' economic agenda is hurtling toward enactment.

Included in the $433 billion Inflation Reduction Act is a 10-year production tax credit for nuclear energy producers.

Michigan Democratic Senator Debbie Stabenow is pushing for last-minute changes to stringent new electric-vehicle tax-credit limits in her party's tax and spending deal amid a pressure campaign from the auto industry.

This is exactly the type of investment that the R&E tax credit was designed to promote.

For EVs to qualify, their batteries will need to contain minerals extracted from or processed in a country the U.S. has a free trade agreement with, and a portion of components to be manufactured or assembled in North America.