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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 Bills Taxes House 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?

1This bill raises the tax credit for carbon capture from $17 to $36 per ton starting in 2026.
2It allows for equal treatment of carbon dioxide used in various ways, including oil recovery and storage.
3The changes apply to tax years beginning after December 31, 2024.
4The bill aims to encourage more businesses to invest in carbon capture technologies.

Read full document

Last changed 2 months ago · checked hourly

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

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