American Energy Independence and Affordability Act

Key Provisions

• Extends the residential clean energy tax credit for homeowners until December 31, 2034, with credit percentages phasing down over time.
• Extends tax credits for buying previously-owned clean vehicles until December 31, 2032.
• Extends tax credits for buying new clean vehicles until December 31, 2032, and increases sourcing requirements for battery parts and critical minerals.
• Requires manufacturers to provide product identification numbers for energy-efficient home improvement items to qualify for tax credits after December 31, 2024.
• Extends the clean energy production tax credit until U.S. electricity emissions drop significantly, or at least until 2032.