On 12 August 2022, the U.S. House of Representatives approved the Inflation Reduction Act of 2022 (Bill H.R. 5376) in a vote of 220 to 207. This follows the approval of the bill in the Senate on 7 August 2022 in a vote of 50 to 50, with Vice President Harris casting the tie-breaking vote. As previously reported, the main tax provisions of the Act include:

• Establishing a 15% corporate alternati…