An Update to the Inflation Reduction Act
A Year of Momentum and Fuel to a U.S. Manufacturing Investment Supercycle
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A year has passed since the Inflation Reduction Act (IRA) was signed into law on August 16, 2022. There is significant momentum to bolster U.S. competitiveness in disruptive technologies such as renewable energy, batteries, and electric vehicles (EVs). The IRA paired with the Bipartisan Infrastructure Bill signed in 2021 provides an estimated $370 billion in federal funding over the next decade to promote a transition to clean energy. GCG’s latest industry perspective highlights new planned factories or expansions unveiled from August 2022 to August 2023 as well as the impact on middle-market participants who stand poised to benefit for years into the future.
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