PPAI Magazine April 2024

Creative rabbit hole / Shutterstock.com Voices | Responsibility The Tax Man Greeneth IN TODAY’S BUSINESS LANDSCAPE, sustainability isn’t just a trend – it’s a strategic imperative for companies seeking long-term success. For suppliers and distributors, embracing sustainable practices is not only about doing what’s right for the planet, but also about seizing opportunities for growth and innovation. Enter the Inflation Reduction Act, landmark legislation signed into law in the United States in August 2022. While its primary focus may be economic, its potential impact on sustainability is profound, offering tangible benefits for businesses looking to prioritize eco-friendly practices. (Don’t think I’ve forgotten about my fellow Canadians – we’ve got some tax tips for you, too.) The IRA allocates approximately $369 billion toward energy security and climate change programs over the next decade, representing a significant investment in sustainability initiatives. This presents a unique opportunity for promotional products companies to access financial support for their sustainability efforts. Here’s how: The Inflation Reduction Act offers tangible benefits for promo firms looking to prioritize ecofriendly practices. By Elizabeth Wimbush 30 • APRIL 2024 • PPAI