Congress this week passed the Inflation Reduction Act, a far-reaching piece of legislation that will affect tens of millions of Americans in one way or another.
The legislative watchdogs at the RV Industry Association have kept an eye on the legislation as it worked its way through both houses of Congress and now that it’s final and expected to be signed this week into law by President Biden, RVIA is ready to go into detail on various aspects of the legislation and the effect it has on its constituents.
On Friday, the House of Representatives passed the Inflation Reduction Act along party lines. The bill previously passed the Senate through budget reconciliation and a tie-breaking vote from Vice President Kamala Harris. President Joe Biden is expected to sign the bill into law this week.
The sweeping package to combat climate change, lower health care costs, raise taxes, reduce the deficit, and containing significant new funding for National Parks and public lands contains several provisions of specific interest to RV manufacturers and suppliers.
Today, we are taking a look at the tax changes in the bill.
Click here to read the full analysis from RVIA.
