We’re thrilled to see the introduction of the Carbon Dioxide Removal Investment Act, a bipartisan effort led by Senators Michael Bennet (D-Colo.) and Lisa Murkowski for U.S. Senate (R-Alaska) to support the growing carbon removal industry. 🌍 This critical update to the tax code recognizes the diversity of innovative technologies — like Ebb Carbon's — that are designed to permanently remove carbon pollution from the atmosphere. By expanding access to tax incentives, this bill can help unlock climate solutions and economic growth.
Today, we were proud to work with U.S. Senators Michael Bennet (D-Colo.) and Lisa Murkowski (R-Alaska) to introduce important bipartisan legislation to stimulate the carbon removal market in the United States. The Carbon Dioxide Removal Investment Act would update existing tax code to right-size it to the current industry, where innovative American companies are using a variety of methods to permanently remove carbon dioxide pollution. Currently, too many carbon removal companies are unable to access tax incentives because their specific technology is not reflected in the tax code. That's why lawmakers and businesses across the United States are calling for this critical update to support the full spectrum of carbon removal tools in our toolbox. “This tax credit for carbon removal will allow innovative American companies working to permanently remove carbon pollution from our atmosphere to access critical incentives that can power their work — in turn unlocking climate benefits, economic growth, and in-demand jobs across the country,” said CRA Executive Director Giana Amador on the bill’s introduction. We’re so grateful to Senators Bennet and Murkowski and all of our partners who helped make this happen. Let’s do this! https://lnkd.in/efWV6jfV