Tax season is here, and I'm committed to lowering costs for you and your family. Did you know that in addition to capping the out-of-pocket costs for insulin in Medicare at $35 per month, the Inflation Reduction Act (IRA) can also help you save money when filing your taxes?
Now, you can visit the IRA Resources page on my updated website to learn more about a large amount of home improvement and energy tax credits that are available for you to take advantage of today, and for future tax filing seasons.
As your Congressman, I am fiercely committed to promoting a future with enhanced energy options that are affordable. That’s why I voted for the Inflation Reduction Act, which includes historic climate legislation that cuts energy costs for hardworking area families while making enormous strides to protect the environment for future generations.
Thanks to the passage of the Inflation Reduction Act, you can save money through a wide range of tax credits and rebates for energy upgrades, including:
- Tax credits of up to up to $3,200 for energy efficient home improvements such as insulation and energy-efficient windows and doors
- Tax credits of up to $2,000 for electric heat pumps or central air conditioners and rebates of up to 100% for certain appliances for low- and moderate-income households
- Tax credits of up to 30% for installing rooftop solar panels, which can save you over $300 per year in energy costs
- Tax credits up to $7,500 for new electric vehicles and up to $4,000 for used electric vehicles, saving you money at the gas pump
The historic investments included in the Inflation Reduction Act will bring down consumer energy costs and increase American energy security while substantially reducing greenhouse gas emissions.
The combined investments will put the U.S. on a path to roughly 40% emissions reduction by 2030 and represents the single biggest climate investment in U.S. history.
Available tax credits and rebate programs will make it easier and more affordable for you to weatherize your home, upgrade to more efficient appliances, purchase electric vehicles, install residential energy systems and save money on your energy bills.
Be sure to take note of which tax credits and rebates are available on an annual basis, such as the Energy Efficient Home Improvement Credit, which you can use to claim credit for improvements made now through 2032.