Provisions in the tax law that promote energy conservation and more use of alternative (nonfossil) fuels can be justified by?

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16-09-2022
Biology

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Provisions in the tax law that promote energy conservation and more use of alternative (nonfossil) fuels can be justified by?

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qwoffwhite qwoffwhite · Answer 1 · 2022-09-19T14:03:26-04:00

Provisions in the tax law that promote energy conservation and more use of alternative nonfossil fuels can be justified by economic and social considerations.

The tax credits for clean energy and other provisions were included in the bill that would increase the production of energy at home and will accelerate the innovation of energy abroad. Additionally, by the investment in disadvantaged communities, projects will be prioritized that can reutilize retired infrastructure of fossil fuel and will employ the displaced workers as it included the particular incentives for the practices of climate-smart agriculture, the IRA would make meaningful progress as it will be forwarding towards a fair, equitable as well as the economic type of clean energy transition.

The developing countries are facing formidable challenges when they are attempted to establish an efficient system of taxes. At first, most workers in these developing countries are typically employed in agriculture or in informal enterprises. Since they are seldom paid a regular and fixed wage, their earnings gradually fluctuate, and many among them are paid in cash as "off the books." The base for a particular income tax is found very hard to calculate.

This includes government policy, political stability, corruption, trade policy, tax policy, labor, and environmental law, and also trade restrictions. In general, the government may have a clear impact on the educational system of the nation, infrastructure, and also in the regulation of health.

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