Week in Insights: Energy Tax Credit Program Needs More Investment

The Inflation Reduction Act has been making a significant impact on American households, according to data released by the IRS and a report by the Treasury Department. But the Treasury Department suggests that the program could go a lot further with increased funding.

IRS data indicates more than 3.4 million families have already claimed over $8 billion in tax credits for things such as solar and energy efficient appliance purchases—both of which were expanded and extended under the tax-and-climate law. The number of families receiving these expanded tax credits increased by nearly one-third from 2021, the year prior to the ...