Inflation Reduction Act savings calculator: How much you may save with tax credits, discounts

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The $739B measure carries a host of tax credits and discounts on everything from electric cars to solar energy.

WASHINGTON --, a $739 billion measure signed into law by President Joe Biden on Tuesday, levies a 15% minimum tax on large corporations and marks the most significant climate legislation in U.S. history.

Meanwhile, the law will reduce the federal deficit by $305 billion over roughly the next decade,The law, which passed the House and Senate with support from Democrats in party-line votes, empowers a federal agency to negotiate with health insurers over the prices for prescription drugs under Medicare, for instance, which should bring down the cost of some drugs for seniors.

 

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You won’t be saving anything. Taxes are going UP! Only those Dems will congress will become rich while we suffer!

Nobody is saving anything w this sham bill. 6abc is fake news.

Another thing i get to pay for but benifit zero from

🤣

Lol. When 6abc tries so hard to promote what we all know is another pork ridden, bullshit bill, they stand to profit from the pork contained in the bill. Post the link to the ENTIRE bill so we can all read it in its entirety.

Without doing the math, I'm guessing zero

This is a dumb calculator because the incentives and tax credits are theoretical based on what you do (buy electric, install panels) and not an actual calculator of what you’ll save.

None! Electric cars are expensive so is solar panels. A manufacturing tax is in this bill which no one talks about, companies won’t pay for it we will as consumers. There is also new gas taxes in this bill which you can take a guess who will be paying for that!

$0

-$150 per paycheck. That’s Obama.

You will save 0 dollars. You will lose many dollars.

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President Biden signs Inflation Reduction Act to limit climate change | EngadgetPresident Biden signs Inflation Reduction Act to limit climate change Who wants to bet it doesn’t do anything but line the pockets of certain people. “To limit climate change” Someone wrote that headline and thought it was a good idea 🤦🏼‍♂️
Source: engadget - 🏆 276. / 63 Read more »

You could save up to $1,800 a year by opting for energy-efficient appliances like heat pumps and solar panelsThe House passed the Inflation Reduction Act, a spending bill that includes rebates or a tax break for consumers who add efficient heat pumps, rooftop solar, electric HVAC and electric water. A scam like everything else. Would have preferred a tax cut so I keep more of my earnings to spend on what I need, but instead you take tax money to give to somebody that buys a 80k Tesla? Gross
Source: MarketWatch - 🏆 3. / 97 Read more »