How The Inflation Reduction Act Could Lower Women’s Costs

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The new Inflation Reduction Act could save women in particular a lot of money on three significant costs: homes, cars and prescription drugs. Here's why - and Reese Witherspoon may help.

... [+]These include a 30% federal tax break for rooftop solar, and up to 30% savings on heat pumps, for clothes dryers, for example. Then there are the Energy Star appliances that can garner a $2,500 tax credit, or even more if they meet the Department of Energy’s Energy Ready Homes program requirements. The IRA also provides a $1,600 offset to the cost of insulation and sealing leaky windows and doors, to reduce the home’s energy use. “There arewho are licensed to drive than men.

Even Reese Witherspoon — the Oscar-winning actor, producer and founder of Hello Sunshine production company – is in the car business now, producing ads to women for General Motors’ Buick brand, including for Buick’s Wildcat electric concept car . With 56% of its new car sales going to women, Buick sells more cars to women than any other brand.General Motors

Like all GM models, Buick is focused on fulfilling GM CEO Mary Barra’s commitment to only manufacture and distribute electric vehicles by 2030. GM Chief Diversity, Equity and Inclusion OfficerEVs sales are growing, jumping year-over-year, yet are still only aboutof the U.S. vehicle market. The tax credits in the Inflation Reduction Act could boost the number of EVs sales, including by women.

One hurdle women especially still have is “range anxiety,” which is fear of running out of charge and being stranded, but the quantity of EV charging stations to address this is proliferating rapidly. Private companies, automakers, and the government are all investing in them, including with funding from the bipartisan Infrastructure Bill signed into law earlier this year.

 

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