The Treasury Department and IRS were given big opportunities—and big responsibilities—with the enactment of last year's Inflation Reduction Act.
The tasks ahead include issuing guidance on various clean-energy provisions in the tax-and-climate law. The Biden administration and congressional Democrats say the provisions will help to reduce greenhouse gas emissions and create more domestic jobs, but Republicans have raised concerns that the provisions are expensive and mostly benefiting large businesses.
On this episode of Talking Tax, Bloomberg Tax reporter Naomi Jagoda talks to Deputy Treasury Secretary Wally Adeyemo, a key player in implementing the law, about the status of guidance on the energy provisions and Republicans' criticism of the tax breaks.
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