| By Todd Woody If you're thinking of buying an electric car or an energy-saving heat pump eligible for federal tax credits and rebates, now might be the time. President-Elect Donald Trump has labeled the US Inflation Reduction Act the "green new scam." He's pledged to rescind funding for the Biden administration's signature 2022 climate law, which includes more than $8.5 billion in incentives for individuals and families to decarbonize their lives.  President-Elect Dona Photographer: Eva Marie Uzcategui/Bloomberg "Clawing back funds already dispersed would be difficult, but that doesn't mean the Trump administration won't try," said Romany Webb, deputy director of the Sabin Center for Climate Change Law at Columbia University. "From a strictly legal perspective, there may be more avenues for the administration to withhold funds that haven't been awarded yet." But "failing to move forward with announced awards may be politically unpopular," she added. The IRA's benefits are manifold. The law offers up to $14,000 for low- and moderate-income households to install heat pumps, induction stoves and other high-efficiency electric appliances. Wealthier families can receive a $2,000 federal tax credit for replacing a fossil-fuel furnace or water heater with a heat pump. Some electric vehicles qualify for a $7,500 tax credit issued at the time of purchase, and a 30% tax credit is available for homeowners to install solar panels and battery storage systems. US Representative Ro Khanna, a California Democrat, said on Thursday's Zero podcast that he doubts that the new Trump administration and Congressional Republicans will seek the wholesale repeal of the IRA, given the billions of dollars in benefits it funnels to their constituents. Short of repealing the IRA, though, taking lucrative incentives away from taxpayers would prove legally difficult and politically problematic, according to David Friedman, senior policy director for Rewiring America, a nonprofit that advocates for community electrification. Friedman said now is always a good time for families to take advantage of the IRA and go electric. "Regardless of what's going to happen in the future, you should do it today because it's a great deal." Read the full story, including what IRA incentives are most in danger of being curtailed under Trump. Subscribe for even more greener living news. | 
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