President Biden signed the Inflation Reduction Act of 2022 into law. It is considered the largest climate package in American history. This law will provide additional funding opportunities and tax expenditures for both the public and private sectors to tackle climate change. Infrastructure LA will monitor regulations and funding opportunities related to the grant programs in this legislation as part of the Infrastructure Initiative.

Fact Sheet

The White House released a state fact sheet that highlights how the Inflation Reduction Act will impact Californians.

• Fact Sheet

Initial Guidance Released

Once the Inflation Reduction Act was signed, the U.S. Department of the Treasury and Internal Revenue Service released initial guidance related to tax credits for electric vehicles impacted by the legislation.

• Guidance
• FAQs

White House Briefings

The White House will be hosting briefings this week to discuss the different components of the law.

Briefing: How the Inflation Reduction Act Will Cut Prescription Drug Costs, Lower Health Insurance Premiums and Expand Coverage with Special Guest Deputy Secretary of Health and Human Services Andrea Palm

Date: Thursday, August 18^th
Time: 1:00 PM ET

Briefing: How the Inflation Reduction Act Will Benefit Rural Americans

Date: Thursday, August 18^th
Time: 3:00 PM ET

Villaraigosa Named California Infrastructure Advisor

Governor Gavin Newsom announced that former Los Angeles Mayor Antonio Villaraigosa will serve as an Infrastructure Advisor to the State of California. Villaraigosa will work to ensure California has access to funds made available by the Bipartisan Infrastructure Law. Infrastructure LA looks forward to working with him to prioritize and advocate for projects in Los Angeles County.

New Resiliency Funding Opportunities

The Federal Emergency Management Agency (FEMA) announced that the application period for the Building Resilient Infrastructure and Communities (BRIC) and Flood Mitigation Assistance (FMA) grant programs will open on September 30, 2022, and will close on January 27, 2023. These grant programs will fund projects that make communities more resilient to the impacts of climate change and other natural hazards.

FEMA will be hosting informational webinars on these grants as part of their 2022 Summer Engagement Series.