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Carbon Dioxide Removal Act: Government Targets and Investments

This act requires the government to remove specific amounts of carbon dioxide from the air or seawater each year, starting in 2024. It sets quantitative targets and cost limits, prioritizing projects that can create jobs and support innovation.
Key points
The government must remove increasing amounts of carbon dioxide annually, starting with 50,000 metric tons in 2024 and reaching 10 million metric tons from 2035 onwards.
The act sets maximum prices the government can pay per ton of carbon dioxide removed, decreasing over time (from $550 in 2024-2025 to $150 from 2035).
Priority will be given to projects that create jobs, support regions dependent on fossil fuels, use innovative technologies, and consider the environment and public health.
A portion of the removal target is set aside for smaller removal projects.
Monitoring and verification of removed carbon dioxide are required to prevent double counting with other programs.
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Additional Information
Print number: 117_HR_7434
Sponsor: Rep. Tonko, Paul [D-NY-20]
Process start date: 2022-04-07
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Federal Carbon Dioxide Removal Leadership Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7434.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-04-07.

What are the main provisions?

Key points include:

  • The government must remove increasing amounts of carbon dioxide annually, starting with 50,000 metric tons in 2024 and reaching 10 million metric tons from 2035 onwards.
  • The act sets maximum prices the government can pay per ton of carbon dioxide removed, decreasing over time (from $550 in 2024-2025 to $150 from 2035).
  • Priority will be given to projects that create jobs, support regions dependent on fossil fuels, use innovative technologies, and consider the environment and public health.
  • A portion of the removal target is set aside for smaller removal projects.
  • Monitoring and verification of removed carbon dioxide are required to prevent double counting with other programs.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Tonko, Paul [D-NY-20].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Energy.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Environment Public Investments