Inflation Reduction Act 2024 Text. On august 16, 2022, president biden signed the inflation reduction act into law, marking the most significant action congress has taken on clean energy and climate change. The inflation reduction act doubled the refundable research and development tax credit for small businesses, raising it from $250,000 to $500,000.
Ira’s provisions will finance green power, lower costs through tax credits,. In 2024, republican voters are making a similar choice.
