Increased Tax Credits for Carbon Capture and Sequestration
This bill increases and expands tax credits for companies that capture carbon dioxide from the atmosphere or their facilities. This aims to encourage investment in technologies that reduce greenhouse gas emissions, potentially impacting air quality, the environment, and future energy costs.
Key points
Increased tax credit amounts for each ton of carbon dioxide captured.
Removal of the 'placed-in-service' deadline, giving companies more time to implement projects.
Expansion of eligible facility types to include industrial facilities and direct air capture facilities.
Extension of the credit period from 12 to 20 years.
Expired
Citizen Poll