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Increases Tax Credit for Carbon Capture
Recent Bills/Increases Tax Credit for Carbon Capture

Increases Tax Credit for Carbon Capture

IntroducedFebruary 5, 2025
Introduced1 year ago
Intro
House
Senate
Pres
Referred to the House Committee on Ways and Means.
Taxation
More:Recently Introduced BillsTaxesHouse Bills
Why This Matters

This bill modifies tax credits for capturing and storing carbon dioxide to make them more beneficial for businesses.

If you run a business that captures carbon dioxide, your tax credit could increase to $36 per ton starting in 2026.
Who this affects
energy production companies · carbon capture technologies
What changes is this bill making?
  1. 1This bill raises the tax credit for carbon capture from $17 to $36 per ton starting in 2026.
  2. 2It allows for equal treatment of carbon dioxide used in various ways, including oil recovery and storage.
  3. 3The changes apply to tax years beginning after December 31, 2024.
  4. 4The bill aims to encourage more businesses to invest in carbon capture technologies.
Read full document
Bill Progress1 of 4
Bills must pass the House, Senate, and be signed by the President to become law.
Intro
House
Senate
Pres
IntroducedCurrentFeb 5, 2025

Referred to the House Committee on Ways and Means.

Sponsors
See all 4 sponsors
House
Senate
President

The President

Donald Trump
President
Awaiting Vote
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