We are happy to see this language survive and are working now to ensure it is implemented properly. This includes outreach to ACMA members in this sector and to relevant NASA officials. If this is an area of interest, please reach out to me.
The second bill, the Inflation Reduction Act, includes a wide range of incentives for markets that utilize composite materials, including hydrogen production, storage and use; electric vehicles; wind power and more. These include investment and production tax credits for companies in these markets. We are still waiting for implementation of this legislation by the Internal Revenue Service, but most of these provisions will be available starting Jan. 1, 2023.
I presented a webinar on this legislation in September, and a recording is available online for all ACMA members at acma.today/chipswebinar.
Congress has now adjourned until after the November election, but the year isn’t over yet. A lame duck session following the election is now expected in mid-November. This session, which will likely be relatively brief, will include a government funding bill and a bill addressing tax and trade.
Dan Neumann is vice president of government relations at ACMA. Email comments to email@example.com.