How This Tracker Will Track the Inflation Reduction Act (and the CHIPS bill)
This Tracker will continue to provide updates for funding opportunities released from the IRA (as well as the CHIPS bill)
On Tuesday, the $485B Inflation Reduction Act was passed into law. Nearly a week earlier, on August 9th, the $280B CHIPS and Science Act was passed. These two new packages are the latest installment of an unprecedented wave of federal funding that has the potential to reshape communities across the country.
As this Tracker has done for the Bipartisan Infrastructure Law, it will provide updates on new funding opportunities for both new pieces of legislation as they are released - with a few modifications. In the coming days, this Tracker will send out helpful guides from various sources to both the Inflation Reduction Act and the CHIPS and Science Act. These guides will help local leaders understand the content of the legislation and how they can benefit from the available funding opportunities.
There are many new competitive and formula grant programs in these two new pieces of legislation, and the Tracker will continue to provide updates on funding opportunities from the CHIPS and Science Act as well as the Inflation Reduction Act.
The Inflation Reduction Act and the CHIPS and Science Act also make extensive use of tax breaks and rebates, which operate differently from formula and competitive grant opportunities. Tax breaks and rebates often don’t have as limited of a time window and may not require the same kind of internal guidance to be released. As a result, this Tracker will focus less on those opportunities. Where possible, however, this Tracker will publish information on those opportunities (e.g., through the aforementioned guides).
Expect more to come in the following days!