This Summer, President Biden signed two bills into law that will have a tremendous impact on the electrical contracting industry by providing direct federal funding and tax credits for infrastructure projects nationwide.
Once again, we will team with Ed DeLisle of Thompson Hine LLP, who will be providing a series of educational content specific to the federal government and its wide array of opportunities.
Ed will discuss how members can qualify for work opportunities funded by the CHIPS and Science Act and the Inflation Reduction Act. The CHIPS Act is poised to provide significant capital investment opportunities for NECA contractors, as it provides over $52 billion in federal funding for domestic semiconductor plant construction. The Inflation Reduction Act will unleash a new series of programs providing hundreds of billions of dollars in new climate-related federal spending. Much of this legislation will provide new or expanded financial resources and tax credits that will impact electrical contractors. In order to maximize the potential for obtaining funding, it is critical for contractors to understand the contents, the federal application process, corresponding state opportunities and what they can do to prepare while the new law is implemented.