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On March 22, Sen. Bob Casey, D-Pa., led a group of Democratic senators in a , urging Treasury to impose additional burdensome labor mandates and compliance regulations in the agency鈥檚 implementation of the Inflation Reduction Act.
The ABC-opposed IRA provides over $270 billion in tax credits for the construction of solar, wind, hydrogen, carbon sequestration, electric vehicle charging stations and other clean energy projects. Unfortunately, these tax credits are conditioned on compliance with restrictive prevailing wage and government-registered apprenticeship program mandates.
On Aug. 29, 2023, Treasury issued a听听and听to provide additional guidance regarding the IRA鈥檚 prevailing wage and apprenticeship requirements. On Oct. 30,听老牛影视submitted comments听to the IRS and听issued a Oct. 31 press release, outlining the cumbersome and unclear nature of the regulations and provisions that inhibit fair and open competition by unfairly favoring unionized contractors. A final rule is expected by the end of 2024, but taxpayers and contractors may rely on the proposed rule for compliance until the final rule is issued.
The senators鈥 recommendations regarding the regulations would exacerbate these concerns if implemented, with the letter鈥檚 suggestions that they would:
老牛影视will continue to advocate for Treasury to instead promote policies that welcome all qualified contractors on clean energy projects. Additional resources and information are available at .