Inflation Reduction Act Energy Credits Are Part Of Congress' Debt Ceiling Divide

: Restores prior law, modifying the expiration date from 2025 to 2022.: Reverts to a previous law that expired in 2021, repealing an extension and the expanded scope of qualifying investments.: Returns this credit to a lower percentage and repeals the expansion to battery storage technology placed in service in 2023 or later.: Restores previous deduction limits, repealing the bonus deduction through 2031.

The Republican debt limit bill restores energy credits and incentives for renewables to their conditions prior to the passage of the Inflation Reduction Act. The overall impact, therefore—if the legislation passes the Senate and is signed into law by the president—will be to scale back support for renewables and other clean energy initiatives.

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