What are the prevailing wage requirements stipulated under the Inflation Reduction Act? How many apprentices do contractors need to employ to qualify for the increased tax credits?
Get answers to these questions plus more in-depth information on how to comply with prevailing wage and apprenticeship requirements on your energy projects.
On August 16, 2022, the Inflation Reduction Act (IRA) was signed into law. Under this new bill, various measures and incentives were created to stimulate economic growth and alleviate inflationary pressures. It is the largest investment in clean energy solutions to date, with the IRS estimating roughly $270 billion being directed towards energy incentives.
One of the most appealing opportunities for contractors under IRA – apart from the increase in volume of public construction projects – is the enhanced energy tax benefit. Energy companies and contractors who qualify for the program can receive up to a 30% tax credit as long as they meet the prevailing wage and apprenticeship requirements stipulated in the regulations.
FAQ: Prevailing Wage for Beginners
If you need a crash course in prevailing wage or are just looking for a quick and easy refresher, check out this FAQ page for beginners.
The Fundamentals of Wages and Fringes on Public Works Projects
Do you have the groundwork covered when it comes to wages and fringes on federal projects? This article covers some of the basics that every compliance professional should know.
Myths and Facts about Prevailing Wage
We set the record straight on some of the most common myths and misconceptions about prevailing wage.
How the IRA Might Affect Your Davis-Bacon Labor Compliance
Get a quick rundown of how the Inflation Reduction Act might affect contractors, agencies, and energy companies as it pertains to labor compliance.
The Related Acts of Davis-Bacon
This blog dives not only into Davis-Bacon, but the standards and basics of the major related acts that work in tandem with it to protect workers on federal projects.
Q&A: Davis-Bacon and Certified Payroll Requirements
New to Davis-Bacon and certified payroll reports? This blog provides a basic summary of why these regulations are important and how to follow them.
California Prevailing Wage and Certified Payroll Requirements
Focusing specifically on California, this blog covers the fundamentals of working on public works projects in the state with one of the most stringent prevailing wage laws in the country.
LEARN MORE ABOUT AND EARN A CERTIFICATION ON DAVIS-BACON/PREVAILING WAGE COMPLIANCE
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