For Families
For Businesses
For Communities
For Seniors
For Taxpayers
100
Hundreds of thousands of New Mexico low- and moderate-income households are eligible for these.
What are rebates on electric appliances like super-efficient heat pumps, water heaters and stoves? (You can also save half to all of the cost of installation.)
Not sure what you need to lower your bills? Save $150 for a home energy audit!
See how you can save money: https://www.whitehouse.gov/cleanenergy/
A calculator: https://www.rewiringamerica.org/app/ira-calculator
100
158,844 small businesses in New Mexico can save money because of these.
What are tax credits for energy efficiency improvements, installation of solar power, and the purchase of clean trucks and vans for commercial fleets?
100
Every community relies on this complex network of transmission lines, generating facilities, and transformers to provide light, heat, and other comforts 24 hours a day, 365 days a year.
What is the grid?
(The IRA will improve the grid to make it more reliable, resilient and flexible.)
100
$35 per month.
What is the most Medicare recipients will be charged for insulin?
100
People who make less than $400,000 a year.
Whose taxes will NOT go up because of the Inflation Reduction Act?
200
The average New Mexican could save 12% ($266/year) on his utility bills because of these.
What are grants to state and local governments to adopt the latest building energy codes?
200
The number of small businesses and self-employed adults in New Mexico that can now now qualify for lower premiums through the Affordable Care Act.
What is 8,000 small business owners and self-employed adults? (This is 22 percent of working-age New Mexicans who are enrolled in the ACA.)
200
Projects to upgrade the grid and people's homes, projects to enhance drought preparedness, wildfire prevention, flood-proofing and storm resistance; transportation projects, plus tree planting in urban areas.
How is the Inflation Reduction Act preparing communities for extreme weather and making them more resilient?
200
Provides peace of mind for seniors with conditions such as cancer, multiple sclerosis, and lung disease.
What does capping out-of-pocket drug costs at $2,000 for Medicare beneficiaries do?
200
$300 billion.
How much will the deficit be reduced as a result of the Inflation Reduction Act?
300
Over 90,000 New Mexico households will install rooftop panels because of these.
What are tax credits covering 30% of the costs to install solar panels? (There are also tax credits to cover battery storage systems, make improvements to reduce energy leakage or upgrade heating and cooling equipment.)
300
Between now and 2030, this much money will be invested in New Mexico for large-scale clean power generation and storage.
What is $15 billion?
Right now 12,000 New Mexicans are employed in clean energy jobs. Think how many more jobs will be created with $15 billion.
300
It will provide money and technical assistance to farmers so they can practice climate-smart agriculture practices.
What are ways the IRA will help New Mexico's family farms?
(New Mexico has 23,800 family farms, extending over 49 million acres of farmland, with diverse products: cattle, chile, onions, alfalfa, cotton, pecans, dairy, hay, and corn.
Climate change could jeopardize – no pun intended – agricultural productivity, alter the nutrient content of crops, increase the price of food, and create other challenges.)
300
It will save billions of dollars for seniors, people with disabilities, and the federal government all at the same time.
What does allowing Medicare to negotiate prices for high-cost drugs accomplish?
300
A 15% minimum tax.
What did the IRA impose on large corporations with incomes greater than $1 billion? (This means everyday Americans such as nurses, firefighters, and teachers will no longer pay a higher tax rate than billion-dollar corporations.)
400
$7,500 for new and $4,000 for used, plus you can skip the gas pump.
How much can you save if you purchase an electric vehicle?
400
"Stackability," one of the most exciting aspects of the Inflation Reduction Act, will mean this for developers.
On top of a 30% tax credit, developers can earn additional credits for using prevailing wage labor, apprenticeship labor, and American-made steel and aluminum.
(There's a total of $2.3 billion available in incentives and grants for New Mexico projects. For every dollar the federal government makes available, the public and private sector is expected to spend $2-$3, making this a $10 billion deal for New Mexico. For perspective, the governor’s proposed spending plan for the entire state government is $9.4 billion.)
400
It will provide millions of dollars to mitigate drought, support fish hatcheries, electrify homes, develop energy and guarantee loans.
What are some ways the IRA will support tribal resilience and sovereignty?
400
Drug companies that raise the price of drugs faster than inflation.
Who will have to pay Medicare a rebate?
400
Pay what they owe
What will the richest one percent of Americans have to do as a result of the Inflation Reduction Act?
500
10,000 more New Mexicans will have health insurance, reduce their debt, avoid bankruptcies and evictions because of these.
What will the new ACA subsidies do for people?
(40,000 New Mexicans will save hundreds of dollars on health care premiums thanks to these subsidies.)
500
Oxy or Occidental Petroleum in Eddy and Lea Counties.
What company is poised to take advantage of the high tax credits for direct air carbon capture in the Permian Basin (pulling carbon out of the atmosphere).
(Other companies can earn tax credits for carbon capture, carbon conversion, carbon dioxide removal, transport, and storage.)
500
The 16 electric cooperatives in rural New Mexico communities.
Who will be getting billions of dollars to acquire renewable and other carbon-free energy through loans and tax credits. (Before the IRA our electric coops couldn't receive federal tax credits.)
500
Vaccines, such as the shingles vaccine.
What is now free for Medicare beneficiaries?
500
Serve you better.
What will the IRS be able to do because they now have more funding?
By the way, see the Inflation Reduction Act tax credits you can get on the IRS website here: https://www.irs.gov/credits-deductions/home-energy-tax-credits