Chairman, President & Chief Executive Officer at Southern
And so absent those guys [indecipherable]; I mean, it would have been certainly higher than 3.7%. The momentum numbers look good. So we just don't -- the data doesn't support a recession, all right? Now we raised the issue on the last call in light of the recession that there may be the likelihood of a national recession where the Southeast remains robust and growing. So we just don't see that right now.
Now, I will say, we do see inflation and particularly in the food and energy markets, and that hurts our customers. So this is not an environment without duress? And it's those factors, I would say, inflation and potential for recession and what the other exogenous variables may be? I mean, what is the future of Ukraine? And what is the unwinding of the supply chain from and how will that visit the United States in the future are all key variables.
What has changed a bit has been this narrative of, are we really in a technical recession? Does that really reflect the strength of the economy? There's pretty good arguments on each side. I would argue that the Southeast, given our strong foundation, is going to be better able to weather this than many places else in the United States.
I think the conclusion of the people that have come up with this legislation is also that this is an inflationary by its structure and the tax increases, which don't impact us very much, and I'll speak to some of the pieces of this legislation and how in respect Southern, probably aren't going to be enough to tip very further into recessionary territory. They tend to believe more of the qualitative not the quantitative story.
With respect to Southern, good having -- this looks really good. When you look at the energy security and climate change pieces of the legislation, the $369 billion or so, it's very helpful to us. You know that the move from investment tax credit or production tax credits is very favorable. To us, our favorite kind of renewable over the years, we call it one time, we were the largest owner of solar in the United States. We've recycled some capital. I never particularly like having to live off the ITC characteristics. So moving to PTC is really a good thing.
And when you look at the Georgia IRP, solar plays an important part in our future. So that's really good start. Recall also our R&D for storage. We've already mentioned our importance of carbon capture science. So the 45Q credits are great.
Here's the big thing, though. If I had to write a headline on all of those benefits, I would say that this is really beneficial to our customers and should reduce the cost of the transition from the fleet today to the net-zero long-term strategy in the future. There are some other things in there that are kind of attractive. The tax credits in there for purchase of electric vehicles, whether they're used or new. There're some other things in there for hydrogen, a variety of other things.
So what about the negatives? What about the pay-fors? If you look at kind of the list of that leading the charts is this 15% corporate minimum book tax. I'll probably leave this for the guys in the boiler room after the call, but I am prepared, Steve, with examples that will show you that the difference between tax taxes and book taxes to us is almost nothing.
A company as big as ours with $23 billion of revenue and all that other stuff, the difference is in taxes paid is just really small like 0.5% kind of as an estimate. It's almost you can't see it, $5 million, $10 million. It's almost nothing. Now of course, as that travels over time depends on a host of factors. But to us, this alternative book tax just doesn't have a material impact to the company, okay?
It will be interesting to see what happens on the prescription drug pricing reform and some of these other things. I just don't have enough there. And everything I should say should be underscored with the admonition that we really haven't been through the 700-page document as thoroughly as we will. What we're giving you are our first thoughts on what it appears to be to us. Dan, do you want to say anything there?