Inflation Reduction Act Updates 2024 Lexus. Biden signed the landmark inflation reduction act, which provides nearly $400 billion to support clean energy and address climate. Simply put, the inflation reduction act includes a $7,500 tax credit at the point of sale for new evs and $4,000 for used evs.

The new data shows the inflation reduction act is achieving its goal to lower both the upfront cost of clean energy and energy efficiency investments and. The new tax credits replace the old.