This report outlines the details and focus of the American IRA and where it could have been improved. From this we draw an ambitious plan for the Australian government to build its own version of the Inflation Reduction Act. In prioritising a more ambitious Act, Australia should provide accessible and affordable finance and incentives to support households to electrify. We should also invest in electrifying public and social housing to ensure an equitable transition. We should demonstrate intensive electrification through community pilots, build the skilled workforce for installation and maintenance of this 21st century technology, and optimise local, state, and federal codes and regulations to lower cost. The government should support Australia’s role in the global supply chain of modern electric appliances, electric vehicles, and renewable sources of electricity and the critical role our primary industry and manufacturing sectors can play.