Too Successful? The IRA is driving so many investments in the local infrastructure that estimates on the tax benefits that will be used were too low. To call them a cost however is quite flawed as they represent a percentage of the capital investments made for infrastructure and desired behavior by private industry. If we wanted to track costs, then the government could have said, we’ll be spending a billion dollars on this or that but instead they built a market using tax incentives. Not for nothing, that’s also how we built the US oil and gas markets (now the largest around the globe) and how we funded fire departments or incentivize charitable giving. Let’s stop calling tax credits a cost, it’s called success.
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Opinion
Best, Yann