3 Stock Winners and Losers of Biden’s Inflation Reduction Act The House of Representatives passed the Inflation Reduction Act on Aug. 12. It now goes to President Joe Biden’s desk. The bill is expected to generate $739 billion in revenue, according to the Congressional Budget Office (CBO). Of the $739 billion in revenue, $433 billion will be for new spending, while the remainder will be for deficit reduction. There will be winners and losers from the enactment of the IR Act. According to the global law firm Dentons, $369 billion of the $433 billion in spending will be for tax credits to address climate change and energy security. The additional $64 billion in spending will be for a three-year extension of the enhanced Affordable Care Act (ACA) tax credits. The big winner from this legislation is the clean energy industry. The IR Act seeks to reduce greenhouse gas (GHG) emissions by 40% by 2030 through tax credits for businesses benefiting from the cleaning of energy. This includes electric vehicle (EV) manufacturers, makers of equipment for generating clean energy, producers, alternative asset managers investing in clean energy and other related companies.