SIOUX CITY, Iowa (KCAU) — By now, Siouxlanders may have heard about the $739 billion Inflation Reduction Act passed earlier in the week by Congress and signed by President Biden.
There are a few ways that Siouxlanders are able to benefit from the Inflation Reduction Act.
A rooftop solar installation is good for an immediate 30% tax credit and beginning in 2023, any new electric vehicle purchase will qualify for a $7,500 credit.
Another benefit beginning next year is that homeowners can receive a $1,200 tax credit for a basic home weatherization.
The purchase of a new electric stove would qualify for an $840 upfront discount and the installation of a heat pump qualifies for an upfront $8,000 discount.