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U.S. DEPARTMENT OF THE TREASURY READOUT: Deputy Secretary Adeyemo Roundtable with Labor Leaders on the Inflation Reduction Act November 23, 2022 LOS ANGELES, CA – U.S. Deputy Secretary of the Treasury Wally Adeyemo participated in a roundtable discussion with labor leaders yesterday to discuss Treasuryʼs implementation of the strong worker provisions included in the Inflation Reduction Act and ways to help ensure workers benefit from the gains created by the transition to a clean energy economy. The roundtable was hosted by the Los Angeles/Orange Counties Building and Construction Trades Council and included leaders from IBEW, Ironworkers, Laborers, Plumbers, Roofers and Waterproofers, and Boilermakers unions. The roundtable is part of a series of discussions the Treasury Department has been hosting as it solicits input from the public to inform its work implementing the Inflation Reduction Act. Nearly three quarters of the billʼs $369 billion climate change investment – $270 billion – is delivered via tax incentives, putting Treasury at the forefront of this landmark law. In the meeting with labor leaders, Deputy Secretary Adeyemo discussed how the Inflation Reduction Act will help ensure that workers benefit from the clean energy economy theyʼre helping build, including through apprenticeship rules that will help expand the union labor force and prevailing wage rules that will help ensure workers receive fair pay. Since the Inflation Reduction Act was signed into law in August, the Treasury Department has engaged a broad spectrum of labor unions, industry representatives, and other stakeholders to help inform its implementation of the law. It is reviewing thousands of public comments on these provisions and has hosted a series of roundtable discussions with key stakeholder groups representing millions of workers, thousands of companies, and trillions of dollars in investment assets, as well as climate and environmental justice advocates, communitybased organizations, and other key actors that are critical to the success of the Inflation Reduction Act. For more information on Treasuryʼs stakeholder engagement around the Inflation Reduction Act climate and clean energy provisions, please see: August 16, 2022: Treasury Releases Initial Information on Electric Vehicle Tax Credit Under Newly Enacted Inflation Reduction Act October 5, 2022: Treasury Seeks Public Input on Implementing the Inflation Reduction Actʼs Clean Energy Tax Incentives FACT SHEET: Treasury, IRS Open Public Comment on Implementing the Inflation Reduction Actʼs Clean Energy Tax Incentives October 26, 2022: READOUT: Stakeholder Roundtable on Clean Power Generation and the Inflation Reduction Act October 27, 2022: READOUT: Stakeholder Roundtable on Climate Impact, Equity, and the Inflation Reduction Act FACT SHEET: Four ways the Inflation Reduction Actʼs Tax Incentives Will Support Building an Equitable Clean Energy Economy October 31, 2022: READOUT: Stakeholder Roundtable on Investor Perspectives on Climate Change, Clean Energy, and the Inflation Reduction Act November 3, 2022: Treasury Seeks Public Input on Additional Clean Energy Tax Provisions of the Inflation Reduction Act November 4, 2022: READOUT: Stakeholder Roundtable on Clean Vehicles and the Inflation Reduction Act
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