How The Inflation Reduction Act Works...

[RayGravesGhost]

Pretty straightforward cost savings for water heaters, windows, solar panels, etc.


https://www.yahoo.com/news/solar-tax-credit-inflation-reduction-161410425.html
How the New Solar Tax Credit in the Inflation Reduction Act Works
Tobie Stanger
Wed, August 17, 2022 at 12:14 PM·6 min read

The Residential Clean Energy Credit allows you to subtract 30 percent of solar costs off your federal taxes, through 2032

Amid rising electricity and home energy costs across the country, the Inflation Reduction Act makes installing solar panels and storage batteries a more attractive investment for many homeowners than it was even a couple years ago.

With the new legislation’s Residential Clean Energy Credit, you can subtract 30 percent of the cost of installing solar heating, electricity generation, and other solar home products from your federal taxes. The credit is a reboot of an older, less valuable federal tax credit and will be available to taxpayers for more than a decade. That means homeowners considering solar installations have plenty of time to consider their options.

Here are key details.

What Is the Solar Tax Credit?​

If you install solar energy equipment in your residence any time this year through the end of 2032, you are entitled to a nonrefundable credit off your federal income taxes, equal to 30 percent of eligible expenses. There’s no dollar limit on those expenses; you’re entitled to that 30 percent tax break whether you spend $20,000 or more than $100,000 on costs associated with a residential solar system.

What Expenses Are Eligible for the Solar Tax Credit?​

According to the Department of Energy and the new law’s language, the same expenses covered under the old law are eligible for this new solar tax credit:

• Solar photovoltaic (PV) panels.
• PV cells used to power an attic fan (but not the fan itself).
• Contractor labor for onsite preparation, assembly, or original installation.
• Permitting fees, inspection costs, and developer fees.
• All equipment needed to get the solar system running, including wiring, inverters, and mounting equipment.
• Storage batteries. (You can claim the tax credit for these even if you buy and install them a year or more after you install the solar system.)
• Sales taxes on eligible expenses.

In a change from the old law, eligible battery storage units that you install must store at least 3 kilowatts.

How Will the Solar Tax Credit Save You Money?​

The credit lowers your federal taxes. So if you spend $24,000 on a system, you can subtract 30 percent of that, or $7,200, from your federal taxes. (You must take the credit for the year the installation is completed.) If, say, you would owe $7,000 in taxes before the credit, a $7,200 credit would drop what you owe to zero. You can’t get a tax refund for the $200 remainder, however. But you can carry forward that remainder into a later tax year.

You’ll save, too, in lower electricity bills. How much you’ll save depends on a number of factors, including how much electricity your household uses, the size of your solar system and the amount of sunlight it gets, and local electricity rates. Real estate experts say a purchased solar system—as opposed to a leased one—can raise the value of your home when you sell.

How Long Does the Solar Tax Credit Last?​

The 30 percent credit lasts until Dec. 31, 2032. It drops to 26 percent in 2033, then 22 percent in 2034, and disappears in 2035, unless Congress continues it. (The new law supersedes an older law, set to expire in 2024, that would have provided a 26 percent credit for solar installations this year, and 22 percent in 2023.)

Who Can Get the Solar Tax Credit?​

It’s available to all taxpayers for their primary or secondary residence located in the U.S. Taxpayers of any income level can take advantage of it. You can use it whether you itemize your taxes or take the standard deduction.

Keep in mind, though, that the solar tax credit is available only if you purchase a solar system; if you lease one, you can’t take advantage of the credit. The same applies if you are a member of a power-purchasing cooperative. However, if you are a tenant-stakeholder in a co-op, you can claim credit for your proportion of the purchase. You can also claim credit for your proportion of the purchase of a community-owned solar system.

Do You Still Get the Federal Tax Credit If Your State Also Offers One?​

The new law doesn’t reduce your federal credit if your state also offers one. But it will be up to your state’s taxing authority whether your state credit is reduced if you take advantage of the federal one.

New York, for example, does not cut its solar incentives for people who take advantage of federal ones; state residents can credit 25 percent of qualified solar energy system equipment expenditures from their state taxes, up to $5,000. You don’t get a refund if that amount is more than what you’d owe, but you can carry over the difference for up to five years.

Can You Use This Credit If You Also Use Other Federal Energy Tax Credits?​

Yes. The new law also includes an improved Nonbusiness Energy Property Credit, which covers other qualifying efficiency upgrades, such as Energy Star certified exterior windows, Energy Star certified exterior doors, air-sealing insulation, upgraded electrical circuit panels, and heat pumps. You can claim both credits on your federal return—either in the same year or different years, depending on when the installations are completed.

This credit, now named the Energy Efficient Home Improvement Credit, has dollar caps for some products—for example, $600 on windows. For most items, however, you can claim 30 percent of the cost up to $1,200 total annually. (Heat pumps are exempt from the per-item or per-year maximums; you can claim up to $2,000 for heat-pump purchase and installation costs.)

A big plus: You can claim the Nonbusiness Energy Property Credit every tax year through 2032. In the past, taxpayers who exceeded “lifetime limits” for qualifying home improvements under that provision couldn’t claim the credit for later improvements.

In theory, that means you could install one or two new Energy Star certified windows each year, and qualify toward the $1,200 credit. “That might be irritating to your window supplier and fairly inconvenient for you,” says Mark Luscombe, principal analyst at Wolters Kluwer Tax & Accounting, a financial publisher. “But you could do it.”

 

[RayGravesGhost]

https://electrek.co/2022/08/16/ev-tax-credit-list-of-cars-eligible-7500-inflation-reduction-act/
Here are the cars eligible for the $7,500 EV tax credit in the Inflation Reduction Act
Jameson Dow

- Aug. 16th 2022 6:11 pm PT

The Inflation Reduction Act, the major climate bill, was signed today, changing the availability of electric vehicle tax credits. Now, only EVs assembled in North America qualify for the credits. Today the US government released a preliminary list of which vehicles currently qualify for the $7,500 EV tax credit.

There are a number of provisions in the new climate bill affecting the availability of EV credits, and those provisions will phase in over the coming months and years. Most of them are focused on bringing more EV and battery production to the US.

But the phase-in times of various provisions have created a lot of confusion in the EV community about which vehicles will qualify and when.

The Department of Energy’s Alternative Fuels Data Center has released the list of vehicles with final assembly in North America, and we’ve copied the list below.

We’ve added links where possible so you can search local dealer inventory for the car you’re looking for. We’ve also added our own notes in the “note” column to clarify which models qualify.

The list does include vehicles that are assembled in North America but for which the manufacturers are currently over the 200K unit cap on the previous credit. That cap is lifted on January 1, 2023, so cars tagged as “manufacturer sales cap met” will not qualify for the electric car tax credit until next year.

Model Year	Vehicle	Note
2022	Audi Q5	PHEV model only
2022	BMW 3-series Plug-in	330e
2022	BMW X5	xDrive45e
2022	Chevrolet Bolt EUV	Manufacturer sales cap met
2022	Chevrolet Bolt EV	Manufacturer sales cap met
2022	Chrysler Pacifica PHEV	Pacifica Hybrid (PHEV) only
2022	Ford Escape PHEV	PHEV model only
2022	Ford F Series	F-150 Lightning only
2022	Ford Mustang MACH E
2022	Ford Transit Van	E-Transit only
2022	GMC Hummer Pickup	Manufacturer sales cap met
2022	GMC Hummer SUV	Manufacturer sales cap met
2022	Jeep Grand Cherokee PHEV	PHEV model only
2022	Jeep Wrangler PHEV	4xe (PHEV) only
2022	Lincoln Aviator PHEV	Plug-In Hybrid model only
2022	Lincoln Corsair Plug-in	Plug-In Hybrid model only
2022	Lucid Air	Reserve here
2022	Nissan Leaf
2022	Rivian EDV	Fleet-only
2022	Rivian R1S	Reserve here
2022	Rivian R1T	Reserve here
2022	Tesla Model 3	Manufacturer sales cap met
2022	Tesla Model S	Manufacturer sales cap met
2022	Tesla Model X	Manufacturer sales cap met
2022	Tesla Model Y	Manufacturer sales cap met
2022	Volvo S60	T8 Recharge (PHEV) only
2023	BMW 3-series Plug-In	330e
2023	Bolt EV	Manufacturer sales cap met
2023	Cadillac Lyriq	Manufacturer sales cap met
2023	Mercedes EQS
2023	Nissan Leaf

Note that this list is not written in stone, and will change with the phase-in of other provisions of the new EV tax credit or as manufacturers change their production plans (for example, VW moving 2023 ID.4 production to Tennessee). We can’t guarantee that any given customer will get access to the credit and are providing the best information we can.

Further, some models may change production mid-year or are based on specific trim levels, so you should confirm that your individual vehicle was assembled in a North American plant. The AFDC recommends that you use the NHTSA VIN decoder on your VIN to confirm that it was assembled in North America. The country name of the final assembly plant can be found under “plant information” at the bottom of the page.

Additionally, the IRS has released a page explaining section 30D of the Internal Revenue Code, which is the section that contains the EV tax credit. This includes a description of what a “written binding contract” is, which allowed EV buyers to take the “old” credit if they signed a purchase contract before the day the IRA was signed (today).

Other requirements which have not yet phased in include battery material and critical mineral sourcing guidelines that will be developed by the IRS. The IRS must issue those guidelines by the end of this year, but from the language on the page, it feels like the IRS probably won’t issue them until December 31 (or maybe that’s just wishful thinking on our part).

Some vehicles will not qualify for the EV tax credit once the IRS issues its guidance, due to being above the $55K MSRP cap for cars and $80K MSRP cap for trucks. Income caps will also be put into place, meaning those earning over $150K ($225K head of household, $300K filing jointly) will not qualify.

There’s also a provision to allow buyers to take advantage of the EV tax credit upfront at the point of sale, but from our reading of the bill, that doesn’t seem to go into place until 2024. The $4,000 used vehicle credit starts in 2023, as does a commercial vehicle credit.

The information in this article supersedes our older article, which had information on the “old” tax credit.

Electrek’s Take​

The confusing nature of these new EV tax credits is unfortunate, and we wish their implementation was made a little simpler and a little less sudden. But given the difficult political situation regarding the passing of the bill, once the Senate reached a breakthrough, nobody wanted to touch the bill’s language. So, unfortunately, with half of the Senate unwilling to support any legislation that might help Americans, we got what we got.

We hope the IRS will make implementation of the new EV tax credits easier by phasing everything in at the same time, and will be responsive to public comments, which we’ll inform you about when they become available.

The number of plug-in hybrids on the list is a little unfortunate – it feels like hybrids should get a smaller portion of the credits than full EVs. But considering the battery-supply-constrained environment we’re in, PHEVs do manage to electrify more vehicles per kWh than BEVs do. So as long as people are plugging in their PHEVs and not just using the engine, they’re still a beneficial thing in terms of decarbonization.

Also, PHEV sales levels have been low for years and aren’t rising, whereas BEVs are. All-electric is just a more pleasurable experience, so we still expect this will result in fewer ICE engines on the road.

Overall, despite these difficulties, the goals of the legislation will help to address the challenges EVs are having right now (mostly supply challenges), will encourage more environmentally and socially responsible sourcing of materials, and should apply to far more individual cars on the road than the previous legislation due to removal of the per-manufacturer cap and extension for another decade.

While we’ll have some growing pains with the new EV tax credit’s structure in the coming months and years, the law includes some much-needed changes to the tax credit which should help the industry as a whole, along with lots of other climate spending and action to help bring emissions down and improve the US’s position in the green energy economy of the future, so on balance, we’re happy about the law. It’s nice to see big climate action for once. Now we just need to push for more.

 

[BSC911]

Oh no!!!!! The government is reducing my taxes in order to help reduce climate change. What am I ever going to do?

-Board’s conservatives.

 

[RayGravesGhost]

Exactly.

While the trumpanzee rage about IRS stormtroopers

Lets look at how the Inflation Reduction Act will actually affect your life & reduce costs

https://www.nbcnews.com/health/heal...becomes-law-will-impact-health-care-rcna43090
Inflation Reduction Act becomes law: How it will affect your health care
The new law is the most significant health care legislation since the Affordable Care Act was passed more than a decade ago.

The Inflation Reduction Act, signed into law by President Joe Biden, is set to lower the cost of prescription drugs — including cancer medications, blood thinners and insulin — for millions of Americans, experts say.

Exorbitant drug prices in the United States are a key reason many people in the U.S. are forced to skip or delay filling their needed prescriptions. A Kaiser Family Foundation poll published last month found that nearly 1 in 2 adults report difficulty affording their health care expenses, including their prescribed medications.

Under the new law, the U.S. government is now able to negotiate prices on the costliest prescription drugs, cap costs at $2,000 per year for people on Medicare, limit the monthly cost of insulin to $35 for seniors, and extend subsidies for people buying their own health coverage through the Affordable Care Act, also known as Obamacare. The law also provides free vaccines for seniors.


The changes are “significant,” especially for anyone in need of high-cost drugs, said Stacie Dusetzina, a health policy professor at Vanderbilt University Medical Center.

People on Medicare are expected to benefit the most from the new law, though health experts say some of the changes could eventually find their way into the commercial insurance market.

However, the changes won’t be immediate; many provisions aren’t slated to take effect for a few years.

Here’s what to know:

Medicare will negotiate prices​

The Inflation Reduction Act allows the federal government to negotiate prices for some of the drugs that Medicare spends the most money on, a long sought-after goal by Democrats and some Republicans.

Previously, the U.S. government was explicitly prohibited from engaging in price negotiations with drugmakers on behalf of the Medicare population.

The new law essentially establishes a process whereby the Health and Human Services secretary proposes the government’s offer price for certain drugs, said Tricia Neuman, senior vice president with the Kaiser Family Foundation.

Starting in 2026, Medicare will begin negotiating the price of 10 drugs, followed by an additional 15 drugs in 2027, and eventually an additional 20 drugs in 2029 and beyond. The negotiation process applies to drugs covered under Medicare Part D that lack a generic or comparable alternative, though drugs under Medicare Part B will eventually be included.

A list of the first 10 drugs selected for negotiation is expected to be made public in 2023, Neuman said.

Any drugmaker that refuses to negotiate may face a tax penalty, though that tax may be lifted if the drugmaker chooses to withdraw their drug from the Medicare program.

The Pharmaceutical Research and Manufacturers of America, the lobbying group for the drug industry, criticized the bill Tuesday after Biden signed it into law, saying that it would lead to fewer life-saving treatments.

A $35 monthly cap on insulin​

The cost of insulin will be capped at $35 a month for patients on Medicare under the new law.

However, the law does not cap the cost of insulin for the millions of people with private health insurance, as Republicans successfully blocked its inclusion in the bill.

The cap on insulin for people on Medicare takes effect next year.

The monthly cap is important, experts say, because patients usually need to buy multiple vials of insulin per month to maintain their health, which can sometimes cause costs to skyrocket.


A study published last month in the journal Health Affairs found that 14% of people who use insulin in the U.S. face what is described as a “catastrophic” level of spending on the medication, meaning that after paying for other essentials, such as food and housing, they spend at least 40% of their remaining income on insulin.

Medicare will still have flexibility on what types of insulin it covers, Neuman said, adding it won't have to cover every insulin product on the market.

$2,000 out-of-pocket cap​

The law includes a $2000 out-of-pocket spending cap on prescription drugs for Medicare beneficiaries. It takes effect in 2025.

Previously, people on Medicare had to spend about $7,000 out of pocket on their prescriptions before qualifying for "catastrophic coverage," according to Medicare's website. Under catastrophic coverage, patients are only charged either a copayment — which is a set amount, usually $10 or $20 per prescription — or a coinsurance percentage, which is set at 5% of the cost of the drug.

Under the new law, in 2024, that 5% coinsurance will be reduced to zero, eliminating it.


The new benefit is not tied to income, said Juliette Cubanski, a Medicare expert with Kaiser Family Foundation, meaning that the out-of-pocket spending limit will apply to everyone on Medicare.

Dusetzina, of Vanderbilt University Medical Center, said the benefit is arguably the most significant portion of the law. She noted patients with cancer or multiple sclerosis can spend tens of thousands of dollars a year on their medications, even after Medicare covers its portion of the bill.

The Medicare program does already offer low-income subsidies that cap spending at a certain threshold, though most people don’t qualify.

About 1.4 million people on Medicare had annual out-of-pocket costs greater than $2,000 in 2020, according to Kaiser Family Foundation.

Other notable benefits​

The law immediately extends subsidies through 2025 for the roughly 13 million people who buy individual coverage through the ACA. The subsidies were set to expire this year.

Next year, seniors on Medicare will no longer have a copay for adult vaccinations, such as the shingles and pneumonia vaccines.

Beginning in 2024, drugmakers will have to pay a rebate to Medicare if they raise the price of their medications faster than inflation, dampening drugmakers’ abilities to hike prices.

That said, there is a concern among some experts that drugmakers will be less hesitant to set higher list prices for new drugs, Dusetzina said. That's because, she said, drugmakers are less likely to face backlash from the public because people on Medicare will only need to spend $2,000 before the government covers the rest. And with the inflation penalty, drugmakers will need to set the highest list price possible to reap the most revenue.

 

[RayGravesGhost]

https://finance.yahoo.com/news/4-ke...on-act-will-kick-in-right-away-182211474.html
Inflation Reduction Act: 4 ways it will kick in right away
Ben Werschkul·Washington Correspondent
Tue, August 16, 2022 at 2:22 PM·6 min read

 

[BSC911]

From an industry analyst.

RENEWABLES

Takeaways From the 2nd Annual Energy Transition Leaders Summit

Kashy Harrison | kashy.harrison@psc.com | 713 546-7330

We recently hosted our 2nd Annual Energy Transition Leaders Summit in Aspen Colorado. A sincere thanks to the investors and companies that made the event a success. The timing of the event was fortuitous in light of the recent passage of the Inflation Reduction Act into law. The IRA provides long-term regulatory visibility for the clean energy sector, potentially drives demand for generation capacity above supply capabilities, takes great strides to bring component manufacturing back to the US, and represents a significant catalyst for the development of green hydrogen and carbon capture. Beyond discussions surrounding the IRA, we continue to be astounded by the sheer enormity of the challenge associated with decarbonizing the global economy while simultaneously ensuring energy security. The Summit, once again, reinforced the view that we remain in the early innings of the decarbonization journey and an all-of-the-above approach across numerous technologies is required.

 

[RayGravesGhost]

https://thehill.com/opinion/finance...uction-act-will-reduce-business-owners-taxes/
Five ways the Inflation Reduction Act will reduce business owners’ taxes


Will the Inflation Reduction Act (IRA) reduce inflation? That remains to be seen. But one thing it will do: reduce taxes for many small business owners — or at least the business owners who take advantage of some of its provisions.

A lot has been written about the new law’s tax increases, particularly on big corporations. There will be a new 15 percent alternative minimum tax on companies making more than $1 billion. And there will be a new excise tax on stock buybacks. On top of that, the IRS will receive $80 billion in additional funding to step up enforcement, a move that will impact both big and small firms.


These factors have made me somewhat critical of the new law because tax increases affect the money small businesses – and their employees – spend.

But there is some good news. There are five new goodies in the package that will save small businesses money on their taxes over the next few years.

For starters, there’s the extension of the qualified business income deduction from 2025 through 2027. Otherwise known as the pass-through deduction, the popular write-off (enacted as part of the Tax Cuts and Jobs Act of 2017) allows many “pass-through” companies (S Corporations, partnerships and other entities where business income “passes through” to the business owner’s individual return) a 20 percent deduction on their business income. This perk, particularly for those earning more than $400,000, was on the chopping block during the IRA’s negotiations. Not only did it survive, but business owners now have two more years to enjoy it.

Second, the IRA gives small business owners the opportunity to enjoy generous tax credits when they buy used or new electric vehicles. There’s a $7,500 “clean vehicle credit” for vans, SUVs and pickups costing $80,000, and $55,000 for all other vehicles.

There’s also a credit of up to $4,000 for a used vehicle tax credit. Both credits have income limitations. It’s not clear whether this deduction can be enjoyed by businesses (it appears that it’s not). But given the overlap of personal and business expenditures of the typical small business owner – particularly gig workers and freelancers – it’s sure to be used somewhere. I drove a Nissan Leaf recently and can vouch for how great these cars are. I’m betting the credit will encourage many entrepreneurs to buy electric vehicles like it, allowing them to save on their taxes and fuel costs.

Third, there’s now a variety of tax credits and rebates available for individuals investing in energy efficiency improvements. This includes solar panels, batteries, energy-efficient appliances, water heaters, heat pumps and cooling systems. These are “residential” benefits, so it’s unlikely that a business can take these same deductions when investing in similar equipment in their property. Regardless, it’s a tax savings on the owner’s individual return. And, in a hat tip to the corporate world, the IRA also modifies, extends and creates a variety of tax credits for green energy, construction, efficiency and other efforts by businesses primarily through 2033.


Businesses providing the types of green energy and environmentally friendly equipment and services that homeowners will be seeking will surely see an uptick in their demand too. For small businesses that buy or sell manufacturing parts used in renewable projects (such as wind turbines and solar panels), there are more tax credits available.

Finally, there’s been an extension to the increasingly popular research and development tax credit. The R&D credit has been around for years and gives businesses of all sizes the opportunity to reduce the taxes they owe based on a formula calculated using expenses they’ve incurred to develop new products. Prior to the IRA, businesses could apply the credit against their income or payroll taxes, but if they chose to do this against their payroll taxes, it was limited to $250,000. That limit has been increased to $500,000.

The Inflation Reduction Act may reduce inflation in the long term. Or it may not. It may increase our deficits. Or it may not. Maybe it’s a typical tax-and-spend bill adroitly passed before a major election. Or maybe it’s a game-changing piece of legislation that will have positive effects for years to come. No one really knows.

But I do know this: Taxes are a profit-generating business owner’s biggest cost. And this bill will certainly help business owners reduce them.

 

[Mdfgator]

i am not a bit climate change guy nor am i into subsidies for the very wealthy, like zirp policies QE etc etc, but if the bill were paid for by billionaires and limited to those that actually need a break, i see nothing wrong with becoming less dependent on fossil fuels. that didnt happen of course so i give the bill a very low grade, like pretty much everything our government does, it benefits the wealthy much too much.

 

[RayGravesGhost]

So you're preference is to do nothing?

 

[Mdfgator]

So you're preference is to do nothing?

mine? do nothing about what?

 

[RayGravesGhost]

There is no competing legislation on climate change or fossil fuels is there?

So this is the only legislation that addresses that issue...better with it or without it?

BTW - Where does the wealthy play a part in solar tax credits?

Where do you have to be wealthy to buy a car?

Where do you have to be wealthy to be on Medicare?

 

[Mdfgator]

There is no competing legislation on climate change or fossil fuels is there?

So this is the only legislation that addresses that issue...better with it or without it?

BTW - Where does the wealthy play a part in solar tax credits?

Where do you have to be wealthy to buy a car?

Where do you have to be wealthy to be on Medicare?

i am not a big climate change guy, i dont see it as the impending doom that many do, i am all for cleaning things as much as we can but the bill cannot fall on the average citizen. being the only legislation doesnt make it good legislation. the wealthy own the solar companies, the wealthy are the ones that can most afford to buy the solar panels and thus benefit from the credits, i lived in california for 25 years i know how it works. i own a tesla got a 7500 tax break, that went directly to the profit margin of tesla, it allows them to sell more cares with higher margins. i didnt need the tax credit. and tesla sure as hell doesnt need help from the governent to do well. i am all for medicaire buying in bulk from the pharmas, but i would have to check the fine print my guess is the costs will be passed on to others, pharma stocks didnt flinch at the bills passing......

 

[BillytheC]

This is how libs get there agendas passed- they do it piece meal - just a little here a little there

climate change is the biggest pile of bullchit known to man

this dem only bill is going to do nothing but increase costs and increase inflatcion

 

[RayGravesGhost]

i am not a big climate change guy, i dont see it as the impending doom that many do, i am all for cleaning things as much as we can but the bill cannot fall on the average citizen.

Fall on the average citizen? How?

The bill is paid for by closing a tax loophole that allowed companies who made over $1 billion of avoiding paying any tax

being the only legislation doesnt make it good legislation. the wealthy own the solar companies, the wealthy are the ones that can most afford to buy the solar panels and thus benefit from the credits,

The credit applies to water heaters, windows, doors, any energy efficient home improvement. That's only done by wealthy people?

i lived in california for 25 years i know how it works. i own a tesla got a 7500 tax break, that went directly to the profit margin of tesla,

And it also went directly into lowering emissions too

it allows them to sell more cares with higher margins. i didnt need the tax credit. and tesla sure as hell doesnt need help from the governent to do well.

Tax credits exist to incentivize behavior society finds beneficial

That's why you get a deduction for being married, home ownership, etc.

Whether or not you NEEDED that tax credit is irrelevant
We offer incentives to achieve a desired effect

i am all for medicaire buying in bulk from the pharmas, but i would have to check the fine print my guess is the costs will be passed on to others, pharma stocks didnt flinch at the bills passing......

Yeah maybe you should check the fine print because its a few drugs at the start and then ramps in out years...

And while you're checking out the fine print realize the Medicaid & the VA system already negotiate drug prices

 

[Mdfgator]

This is how libs get there agendas passed- they do it piece meal - just a little here a little there

climate change is the biggest pile of bullchit known to man

this dem only bill is going to do nothing but increase costs and increase inflatcion

it all pales in comparison to shutting the country down and issuing stimi to eveyone!!!!

 

[Mdfgator]

Fall on the average citizen? How?

The bill is paid for by closing a tax loophole that allowed companies who made over $1 billion of avoiding paying any tax



The credit applies to water heaters, windows, doors, any energy efficient home improvement. That's only done by wealthy people?




And it also went directly into lowering emissions too



Tax credits exist to incentivize behavior society finds beneficial

That's why you get a deduction for being married, home ownership, etc.

Whether or not you NEEDED that tax credit is irrelevant
We offer incentives to achieve a desired effect



Yeah maybe you should check the fine print because its a few drugs at the start and then ramps in out years...

And while you're checking out the fine print realize the Medicaid & the VA system already negotiate drug prices

if you add to the deficit its a tax on average people either through inflation or by future tax increases. they didnt address carried interest or cap gains, the wealthy benefit overwhelmingly.

 

[RayGravesGhost]

if you add to the deficit its a tax on average people either through inflation or by future tax increases.

It doesn't add to the deficit

they didnt address carried interest or cap gains, the wealthy benefit overwhelmingly.

Again....don't let the good die in pursuit of the perfect

They got the corporate minimum tax and the 1% excise tax on corporate buybacks

The excise tax on stock buybacks DEWARFS closing the carried interest loophole

https://www.usnews.com/news/busines...e bill President Joe,tax takes effect in 2023.
Under the bill President Joe Biden signed into law Tuesday, companies will face a new 1% excise tax on purchases of their own shares, effectively paying a penalty for a maneuver that they have long used to return cash to investors and bolster their stock price. The tax takes effect in 2023.

Buybacks have ballooned in recent years — they’re forecast to reach $1 trillion in 2022 — as companies have swelled with cash from sky-high profits.

Inflation Reduction Act Summary​

​

Policy	Cost (-)/Savings (2022-2031)
Energy and Climate	-$386 billion
Clean Electricity Tax Credits	-$161 billion
Air Pollution, Hazardous Materials, Transportation and Infrastructure	-$40 billion
Individual Clean Energy Incentives	-$37 billion
Clean Manufacturing Tax Credits	-$37 billion
Clean Fuel and Vehicle Tax Credits	-$36 billion
Conservation, Rural Development, Forestry	-$35 billion
Building Efficiency, Electrification, Transmission, Industrial, DOE Grants and Loans	-$27 billion
Other Energy and Climate Spending	-$14 billion
Health Care	-$98 billion
Extension of Expanded ACA Subsidies (three years)	-$64 billion
Part D Re-Design, LIS Subsidies, Vaccine Coverage	-$34 billion
Total, Spending and Tax Breaks	-$485 billion
Health Savings	$322 billion
Repeal Trump-Era Drug Rebate Rule	$122 billion
Drug Price Inflation Cap	$101 billion
Negotiation of Certain Drug Prices	$99 billion
Revenue	$468 billion
15 Percent Corporate Minimum Tax	$313 billion
IRS Tax Enforcement Funding*	$124 billion
Closure of Carried Interest Loophole	$13 billion
Methane Fee, Superfund Fee, Other Revenue	$18 billion
Total, Savings and Revenue	$790 billion
Net Deficit Reduction	$305 billion

 

[Mdfgator]

It doesn't add to the deficit



Again....don't let the good die in pursuit of the perfect

They got the corporate minimum tax and the 1% excise tax on corporate buybacks

The excise tax on stock buybacks DEWARFS closing the carried interest loophole

https://www.usnews.com/news/business/articles/2022-08-16/companies-facing-first-tax-on-stock-buybacks-in-biden-bill#:~:text=Under the bill President Joe,tax takes effect in 2023.
Under the bill President Joe Biden signed into law Tuesday, companies will face a new 1% excise tax on purchases of their own shares, effectively paying a penalty for a maneuver that they have long used to return cash to investors and bolster their stock price. The tax takes effect in 2023.

Buybacks have ballooned in recent years — they’re forecast to reach $1 trillion in 2022 — as companies have swelled with cash from sky-high profits.

Inflation Reduction Act Summary​

​

Policy	Cost (-)/Savings (2022-2031)
Energy and Climate	-$386 billion
Clean Electricity Tax Credits	-$161 billion
Air Pollution, Hazardous Materials, Transportation and Infrastructure	-$40 billion
Individual Clean Energy Incentives	-$37 billion
Clean Manufacturing Tax Credits	-$37 billion
Clean Fuel and Vehicle Tax Credits	-$36 billion
Conservation, Rural Development, Forestry	-$35 billion
Building Efficiency, Electrification, Transmission, Industrial, DOE Grants and Loans	-$27 billion
Other Energy and Climate Spending	-$14 billion
Health Care	-$98 billion
Extension of Expanded ACA Subsidies (three years)	-$64 billion
Part D Re-Design, LIS Subsidies, Vaccine Coverage	-$34 billion
Total, Spending and Tax Breaks	-$485 billion
Health Savings	$322 billion
Repeal Trump-Era Drug Rebate Rule	$122 billion
Drug Price Inflation Cap	$101 billion
Negotiation of Certain Drug Prices	$99 billion
Revenue	$468 billion
15 Percent Corporate Minimum Tax	$313 billion
IRS Tax Enforcement Funding*	$124 billion
Closure of Carried Interest Loophole	$13 billion
Methane Fee, Superfund Fee, Other Revenue	$18 billion
Total, Savings and Revenue	$790 billion
Net Deficit Reduction	$305 billion

youre entitled to your opinion, i dont agree. wont be paid for just like trumps tax cuts were not paid for.

 

[LinksGator]

The length of one’s Johnson is inversely proportional to the length of one’s posts.

 

[BamaFan1137]

https://electrek.co/2022/08/16/ev-tax-credit-list-of-cars-eligible-7500-inflation-reduction-act/
Here are the cars eligible for the $7,500 EV tax credit in the Inflation Reduction Act
Jameson Dow

- Aug. 16th 2022 6:11 pm PT

The Inflation Reduction Act, the major climate bill, was signed today, changing the availability of electric vehicle tax credits. Now, only EVs assembled in North America qualify for the credits. Today the US government released a preliminary list of which vehicles currently qualify for the $7,500 EV tax credit.

There are a number of provisions in the new climate bill affecting the availability of EV credits, and those provisions will phase in over the coming months and years. Most of them are focused on bringing more EV and battery production to the US.

But the phase-in times of various provisions have created a lot of confusion in the EV community about which vehicles will qualify and when.

The Department of Energy’s Alternative Fuels Data Center has released the list of vehicles with final assembly in North America, and we’ve copied the list below.

We’ve added links where possible so you can search local dealer inventory for the car you’re looking for. We’ve also added our own notes in the “note” column to clarify which models qualify.

The list does include vehicles that are assembled in North America but for which the manufacturers are currently over the 200K unit cap on the previous credit. That cap is lifted on January 1, 2023, so cars tagged as “manufacturer sales cap met” will not qualify for the electric car tax credit until next year.

Model Year	Vehicle	Note
2022	Audi Q5	PHEV model only
2022	BMW 3-series Plug-in	330e
2022	BMW X5	xDrive45e
2022	Chevrolet Bolt EUV	Manufacturer sales cap met
2022	Chevrolet Bolt EV	Manufacturer sales cap met
2022	Chrysler Pacifica PHEV	Pacifica Hybrid (PHEV) only
2022	Ford Escape PHEV	PHEV model only
2022	Ford F Series	F-150 Lightning only
2022	Ford Mustang MACH E
2022	Ford Transit Van	E-Transit only
2022	GMC Hummer Pickup	Manufacturer sales cap met
2022	GMC Hummer SUV	Manufacturer sales cap met
2022	Jeep Grand Cherokee PHEV	PHEV model only
2022	Jeep Wrangler PHEV	4xe (PHEV) only
2022	Lincoln Aviator PHEV	Plug-In Hybrid model only
2022	Lincoln Corsair Plug-in	Plug-In Hybrid model only
2022	Lucid Air	Reserve here
2022	Nissan Leaf
2022	Rivian EDV	Fleet-only
2022	Rivian R1S	Reserve here
2022	Rivian R1T	Reserve here
2022	Tesla Model 3	Manufacturer sales cap met
2022	Tesla Model S	Manufacturer sales cap met
2022	Tesla Model X	Manufacturer sales cap met
2022	Tesla Model Y	Manufacturer sales cap met
2022	Volvo S60	T8 Recharge (PHEV) only
2023	BMW 3-series Plug-In	330e
2023	Bolt EV	Manufacturer sales cap met
2023	Cadillac Lyriq	Manufacturer sales cap met
2023	Mercedes EQS
2023	Nissan Leaf

Note that this list is not written in stone, and will change with the phase-in of other provisions of the new EV tax credit or as manufacturers change their production plans (for example, VW moving 2023 ID.4 production to Tennessee). We can’t guarantee that any given customer will get access to the credit and are providing the best information we can.

Further, some models may change production mid-year or are based on specific trim levels, so you should confirm that your individual vehicle was assembled in a North American plant. The AFDC recommends that you use the NHTSA VIN decoder on your VIN to confirm that it was assembled in North America. The country name of the final assembly plant can be found under “plant information” at the bottom of the page.

Additionally, the IRS has released a page explaining section 30D of the Internal Revenue Code, which is the section that contains the EV tax credit. This includes a description of what a “written binding contract” is, which allowed EV buyers to take the “old” credit if they signed a purchase contract before the day the IRA was signed (today).

Other requirements which have not yet phased in include battery material and critical mineral sourcing guidelines that will be developed by the IRS. The IRS must issue those guidelines by the end of this year, but from the language on the page, it feels like the IRS probably won’t issue them until December 31 (or maybe that’s just wishful thinking on our part).

Some vehicles will not qualify for the EV tax credit once the IRS issues its guidance, due to being above the $55K MSRP cap for cars and $80K MSRP cap for trucks. Income caps will also be put into place, meaning those earning over $150K ($225K head of household, $300K filing jointly) will not qualify.

There’s also a provision to allow buyers to take advantage of the EV tax credit upfront at the point of sale, but from our reading of the bill, that doesn’t seem to go into place until 2024. The $4,000 used vehicle credit starts in 2023, as does a commercial vehicle credit.

The information in this article supersedes our older article, which had information on the “old” tax credit.

Electrek’s Take​

The confusing nature of these new EV tax credits is unfortunate, and we wish their implementation was made a little simpler and a little less sudden. But given the difficult political situation regarding the passing of the bill, once the Senate reached a breakthrough, nobody wanted to touch the bill’s language. So, unfortunately, with half of the Senate unwilling to support any legislation that might help Americans, we got what we got.

We hope the IRS will make implementation of the new EV tax credits easier by phasing everything in at the same time, and will be responsive to public comments, which we’ll inform you about when they become available.

The number of plug-in hybrids on the list is a little unfortunate – it feels like hybrids should get a smaller portion of the credits than full EVs. But considering the battery-supply-constrained environment we’re in, PHEVs do manage to electrify more vehicles per kWh than BEVs do. So as long as people are plugging in their PHEVs and not just using the engine, they’re still a beneficial thing in terms of decarbonization.

Also, PHEV sales levels have been low for years and aren’t rising, whereas BEVs are. All-electric is just a more pleasurable experience, so we still expect this will result in fewer ICE engines on the road.

Overall, despite these difficulties, the goals of the legislation will help to address the challenges EVs are having right now (mostly supply challenges), will encourage more environmentally and socially responsible sourcing of materials, and should apply to far more individual cars on the road than the previous legislation due to removal of the per-manufacturer cap and extension for another decade.

While we’ll have some growing pains with the new EV tax credit’s structure in the coming months and years, the law includes some much-needed changes to the tax credit which should help the industry as a whole, along with lots of other climate spending and action to help bring emissions down and improve the US’s position in the green energy economy of the future, so on balance, we’re happy about the law. It’s nice to see big climate action for once. Now we just need to push for more.

Have you ever noticed that the government doesn't have to stimulate you to purchase things that you want and need?

That's weird, right?

I buy led light bulbs now because they're a good value and they work well...even though I don't get a tax credit. I wonder if there's a lesson in there for us?

 

[RayGravesGhost]

Have you ever noticed that the government doesn't have to stimulate you to purchase things that you want and need?

That's weird, right?

that would be weird if that actually happened in real life

This is basic Economics 101

Does the government stimulate housing purchases thru tax incentives?
Does the government stimulate investment thru tax incentives?
Does the government stimulate the agriculture industry thru subsidies?

The government isn't the only entity that does this

Suppliers incentivize their vendors thru purchase discounts
Vendors incentivize customers to buy a product thru sales discounts

You as a consumer are stimulated (incentivized) in great deal of your product purchases...you just don't realize it

https://www.masterclass.com/articles/understanding-incentives-in-economics
Understanding Incentives in Economics: 5 Common Types of Economic Incentives
Written by MasterClass

Last updated: Aug 26, 2021 • 6 min read

I buy led light bulbs now because they're a good value and they work well...even though I don't get a tax credit. I wonder if there's a lesson in there for us?

Its funny that you chose LED bulbs as your example

Do you forget that Bush & Obama wanted LEDs because they were more efficient?

They set light bulb efficiency standards that were more easily met by LEDs than incandescent bulbs and the industry responded by producing the better product
at lower cost

trump stopped that effort because he claimed it wasn't worth it

Was trump right?
No he wasn't as you have said LEDs are a better value and work well

The government doesn't just use tax incentives or subsidies to incentivize positive behavior...it also uses taxes as a disincentive for social behaviors it doesn't want to promote

Cigarettes are one example

Another example would be seat belts in automobiles.
Auto industry fought that product development for years because it would raise their production costs

Government made it a safety standard that was required by law

Would we be better off if it wasn't made a standard and just waited for consumers to recognize the safety value on their own?


https://arstechnica.com/science/201...bulbs-dont-have-to-meet-efficiency-standards/
DOE has decided many lightbulbs don’t have to meet efficiency standards
Yet another Obama-era standard gets gutted despite resistance from some utilities.
JOHN TIMMER - 9/5/2019, 3:55 PM

 

[BamaFan1137]

Its funny that you chose LED bulbs as your example

Do you forget that Bush & Obama wanted LEDs because they were more efficient?

That was my entire point.

When they first came out, they sucked (didn't last long and the light produced wasn't great) and they were too expensive. I didn't buy them as a novelty. Now that they are truly market ready, I absolutely buy them because it makes sense for me to buy them.

I didn't need to be incentivized by the government. I needed a better product. We got one.

 

[BamaFan1137]

Does the government stimulate housing purchases thru tax incentives?
Does the government stimulate investment thru tax incentives?
Does the government stimulate the agriculture industry thru subsidies?

They shouldn't be doing any of this either save in the most extreme of circumstances.

I do think tax deductions for interest on home loans is an acceptable incentive. There's almost no downside to that, promoting home ownership (the American dream) and stimulating thr economy.

Incentivizing things like solar panels, which we've been doing off and on for decades now, isn't a great idea. Much like the LED light bulb, solar panels can either become worthwhile or not based on their own merit. What's it been, like 30+ years now?

On the flipside, in some areas of the country, solar panels are somewhat more viable because of the cost of energy in those areas. You inflate that cost, solar panels make more sense. But even then, it isn't a self-sufficient market sector.

 

[RayGravesGhost]

That was my entire point.

When they first came out, they sucked (didn't last long and the light produced wasn't great) and they were too expensive. I didn't buy them as a novelty. Now that they are truly market ready, I absolutely buy them because it makes sense for me to buy them.

I didn't need to be incentivized by the government. I needed a better product. We got one.

Lets just say the actual time line & facts don't support what you're saying


https://www.rapidtransition.org/sto...d-shift-to-leds-and-ultra-efficient-lighting/
The lightbulb moment: the rapid shift to LEDs and ultra efficient lighting
Posted on 9 June 2021

The rise of the LED shows what robust, interventionist and strong government policy can do to phase out inefficient, wasteful and damaging products. Without it, industry would not have had the impetus to shift production away from outdated lighting technologies. Crucial for drawing insights from this transition, the legislation is most typically based on efficiency requirements, rather than specific technologies, leaving technology and industry to find the solution. The result has been the inevitable decline of halogen and incandescent light bulbs, creating savings across the board for businesses and consumers alike.

One of the main enabling factors for the growing dominance of LEDs was their declining cost. Thanks to innovation within the lighting manufacturing sector, as well as the sheer scale of production, the cost of LED lighting has dropped dramatically over the last few decades.When LEDs first hit the market in the UK, consumers could be expected to pay as much as £9 per bulb – something that is quite unimaginable now with the advent of £1 LED light bulbs. The price drop was so fast that consumers could expect a bulb to be as much as £1 cheaper in the space of just a year. This enabled the rapid growth of LEDs in a variety of ways. Firstly, their current price point means they are affordable to nearly all consumers, increasing sales and product penetration. Secondly, their low cost makes the return on investment (ROI) even faster, with some estimates at between 3 to 4 months. The return in some consumer situations could be as much as 525%, although it depends on a number of variables.

Clear government legislation and guidance on efficiency, quality and phase-out also played a major role. In order to accelerate the growth of LED lighting products, governments have been keen to intervene in markets. The past decades have seen governments all over the world introduce a raft of measures on minimum quality and efficiency standards. The result has been the phase out of inefficient light bulbs and manufacturing capacity shifting to the production of LEDs, creating the industrial scale required to drive down costs quickly. Under EU legislation, this year – 2021 – could see the last incandescent and halogen light bulbs sold in Britain.



product improvements & increased sales had occurred BEFORE trump tried to kill the effort

https://www.rapidtransition.org/sto...d-shift-to-leds-and-ultra-efficient-lighting/
As late as 2015, many consumers were still reluctant to leave the traditional lightbulb behind. They considered alternatives to halogen and incandescent lamps inadequate, but LED lighting quality, design, price and functionality improvements in the last few years have been impressive and their uptake has accelerated rapidly as a result. Today, LEDs cost $2-5 and use up to 90% less energy than incandescent bulbs (including halogen) and 60% less than old fluorescent lighting. By 2019, LEDs accounted for around 46% of lighting sales globally, up from 37% in 2018.

The governmental push to phase out inefficient bulbs that has supported the rise of the LED began in 2005 in Brazil and Venezuela, before the European Union, Australia and Switzerland began to phase them out in 2009. Most governments and companies are now enacting policies to increase the uptake of LEDs due to the cost and energy-saving potential. The phase out in the US began in 2007 (before being suspended in 2019 by the Trump administration) and an EU directive will end the sale of incandescent and halogen light bulbs by the end of 2021.



Oh and that improved LED bulb you love so much was funded by green energy efforts of Barack Obama...Imagine THAT!!! 🤣


https://www.energy.gov/articles/energy-department-invests-more-10-million-
efficient-lighting-research-and-development
Energy Department Invests More than $10 Million in Efficient Lighting Research and Development
JUNE 10, 2016

 

[RayGravesGhost]

They shouldn't be doing any of this either save in the most extreme of circumstances.

The mortgage interest deduction has fueled the greatest home ownership in the history of mankind. Where has there ever been a more vibrant mortgage market than the US?

The deductibility of a portion of that mortgage expense is directly tied to buying a home over renting

I do think tax deductions for interest on home loans is an acceptable incentive. There's almost no downside to that, promoting home ownership (the American dream) and stimulating thr economy.

Exactly. Which is why the government offers the tax deduction.

Your argument was that the government doesn't have to incentivize anything you want/need

You're now defeating your own argument by telling us what government tax incentives you find acceptable

Incentivizing things like solar panels, which we've been doing off and on for decades now, isn't a great idea. Much like the LED light bulb, solar panels can either become worthwhile or not based on their own merit. What's it been, like 30+ years now?

You obviously don't know anything about how that market operates globally.
And certainly don't know anything about the market history in the US has developed

On the flipside, in some areas of the country, solar panels are somewhat more viable because of the cost of energy in those areas. You inflate that cost, solar panels make more sense. But even then, it isn't a self-sufficient market sector.

Is the auto industry self-sufficient?
Is the airline industry self-sufficient?

Both receive massive government tax & subsidies to produce their products/services

Is any industry "self-sufficient" for that matter?

They all receive investor funding that the government incentivizes
They all receive tax breaks for placing their factories in one area versus another

What major industrial sector is "self-sufficient" in your opinion?

 

[Capt Ron 1]

Oh no!!!!! The government is reducing my taxes in order to help reduce climate change. What am I ever going to do?

-Board’s conservatives.

So this is 100% a troll. You cannot increase spending to reduce taxes...even lefties CANNOT be that STUPID. (after more thought...I take that back)

 

[Capt Ron 1]

If you REALLY want to understand how EVERY lib tax and spending bill works...read this. GM and Ford JUST HAPPENED to raise their prices the SAME as the tax credit that got passed the same day as the bill passed. THIS is RALLY how things work when dealing with ZERO character libs. Grease the unions for votes. Just a side not...there is NEVER, EVER this big of a price increase

GM, Ford say electric vehicle price increases have nothing to do with Dem spending bill

Two large U.S. automakers refuted criticism Tuesday that recent price hikes were related to the Inflation Reduction Act which extends the electric vehicle tax credit.

www.foxbusiness.com

 

[RayGravesGhost]

OK while you're spending your time worrying about unions...

I'm looking at doing my windows & doors and whether or not to
install solar panels when I do my roof

 

[Capt Ron 1]

OK while you're spending your time worrying about unions...

I'm looking at doing my windows & doors and whether or not to
install solar panels when I do my roof

I worry about abuse of tax dollars...and unions are just one of the many lefty culprits. They ALL support lefties, because you all can be bought, because you have ZERO morals, and love of Country is about number 99 in order of importance

 

[billywayneluck]

That was my entire point.

When they first came out, they sucked (didn't last long and the light produced wasn't great) and they were too expensive. I didn't buy them as a novelty. Now that they are truly market ready, I absolutely buy them because it makes sense for me to buy them.

I didn't need to be incentivized by the government. I needed a better product. We got one.

The same will be true for EVs. They are getting better, but we aren't ready for the widespread adoption many dream of. We will get there, but it won't be for a few years.

 

[billywayneluck]

I worry about abuse of tax dollars...and unions are just one of the many lefty culprits. They ALL support lefties, because you all can be bought, because you have ZERO morals, and love of Country is about number 99 in order of importance

Dems don't realize this is all a circus to keep us distracted from their activities behind the curtain. One day we will all see plain as day, and the pain will be real.

 

[Mdfgator]

They shouldn't be doing any of this either save in the most extreme of circumstances.

I do think tax deductions for interest on home loans is an acceptable incentive. There's almost no downside to that, promoting home ownership (the American dream) and stimulating thr economy.

Incentivizing things like solar panels, which we've been doing off and on for decades now, isn't a great idea. Much like the LED light bulb, solar panels can either become worthwhile or not based on their own merit. What's it been, like 30+ years now?

On the flipside, in some areas of the country, solar panels are somewhat more viable because of the cost of energy in those areas. You inflate that cost, solar panels make more sense. But even then, it isn't a self-sufficient market sector.

almost no downside incenting home ownership? LOL. i am not a fan of government subsidies

 

[Capt Ron 1]

almost no downside incenting home ownership? LOL. i am not a fan of government subsidies

You cannot be a democrat then.....That is EXACTLY who votes for democrats...people with their hand out for gubment freebies.

 

[Mdfgator]

You cannot be a democrat then.....That is EXACTLY who votes for democrats...people with their hand out for gubment freebies.

trump was the queen of handouts, youre either too dumb to realize that or dont give a rats ass. you pick.

 

[Capt Ron 1]

trump was the queen of handouts, youre either too dumb to realize that or dont give a rats ass. you pick.

Ok Karen....

 

[billywayneluck]

Ok Karen....

Poor libs. Their loyalty won’t be rewarded when their usefulness has been exhausted.

 

[BamaFan1137]

i am not a fan of government subsidies

Or of proper punctuation.

 

[billywayneluck]

Or of proper punctuation.

Maybe he can pronounce Biden’s “one word to describe America!”

 

[IrishPokerDog]

I don’t see where you mention the unfunded mandates, like the one that will eventually force all residential homes to use heat pumps and basically prohibit gas furnaces, unless it’s in a dual fuel application

I haven’t read the text, but one of my professional engineers has

 

[BamaFan1137]

I don’t see where you mention the unfunded mandates, like the one that will eventually force all residential homes to use heat pumps and basically prohibit gas furnaces, unless it’s in a dual fuel application

I haven’t read the text, but one of my professional engineers has

As in natural gas furnaces??? Help me make sense of that.