Februaey 2, 2023

On January 31, 2023, Treasury Deputy Secretary Wally Adeyemo released the following statement on the Inflation Reduction Act’s strong labor protections’ going into effect: 

“The Biden-Harris Administration is committed to taking steps to make sure clean energy jobs are good-paying jobs and that American workers are ready to take on the opportunities created by the Inflation Reduction Act’s investments. Strong labor protections are now in place, and workers on these projects will see higher paychecks and more opportunities. This marks the first time that workers on projects supported by clean energy tax incentives will benefit from protections on pay that have long benefitted workers on projects supported by federal contracts. Treasury’s guidance to implement this critical piece of the Inflation Reduction Act ensures that workers benefit from the clean energy economy they are building.”  

Since the Inflation Reduction Act was signed into law in August 2022, Treasury has worked expeditiously to write the rules that will make real the promise of this legislation. Within days of the law’s enactment, Treasury issued guidance on the clean vehicle tax credit and worked closely with the Departments of Energy and Transportation so consumers could easily find a list of eligible vehicles online.  

In the fall of 2022, Treasury held a series of stakeholder discussions with Secretary Janet L. Yellen and Deputy Secretary Wally Adeyemo to solicit input from key groups representing millions of workers, thousands of companies, and trillions of dollars in investment assets, as well as climate and environmental justice advocates, community-based organizations, and other key actors that are critical to the success of the Inflation Reduction Act. Treasury also hosted three formal consultations with Tribal governments and Alaska Native Corporations to hear first-hand from Tribal leaders about provisions in the law that directly affect Tribal nations. 

In addition, Treasury has solicited and is reviewing thousands of public comments from trade associations, carmakers, labor groups, state and municipal leaders, consumers, foreign governments, utility companies, climate advocacy organizations, think tanks, and more. 

In November, Treasury published initial guidance on the prevailing wage and apprenticeship standards, which went into effect on January 29, 2023. 

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