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Changes to Carbon Capture Tax Credits

This act modifies tax credits for capturing and storing carbon dioxide, aiming to ensure equal support for various uses of captured carbon. This could encourage the development of environmental and energy technologies.
Key points
Equal tax credits: Different uses of captured carbon dioxide (e.g., storage, use in oil recovery) will receive the same tax credit treatment.
Increased tax credits: The amount of the tax credit for carbon capture will increase from 2025 and will be adjusted for inflation.
Support for technology: The changes aim to encourage companies to invest in carbon emission reduction technologies, potentially improving air quality and fostering green energy development.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_425
Sponsor: Sen. Barrasso, John [R-WY]
Process start date: 2025-02-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Enhancing Energy Recovery Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_425.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-02-05.

What are the main provisions?

Key points include:

  • Equal tax credits: Different uses of captured carbon dioxide (e.g., storage, use in oil recovery) will receive the same tax credit treatment.
  • Increased tax credits: The amount of the tax credit for carbon capture will increase from 2025 and will be adjusted for inflation.
  • Support for technology: The changes aim to encourage companies to invest in carbon emission reduction technologies, potentially improving air quality and fostering green energy development.
What is the specific legal status?

The current status is Introduced.

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 Sen. Barrasso, John [R-WY].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Environment Economy