US Treasury issues new IRA guidance
- Admin
- May 17, 2024
- 1 min read
The US Department of the Treasury and Internal Revenue Service (IRS) have released additional guidance on the Inflation Reduction Act’s (IRA) domestic content bonus to boost the country’s manufacturing, iron and steel production, and clean energy economy. The domestic content bonus applies to facilities and projects using domestically produced steel, iron, and manufactured products. The article discusses the requirements for receiving the bonus under clean energy tax credits and the new safe harbor approach for determining minimum percentage costs of manufactured products.
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