Companies Urge Congress To Keep Carbon Capture Credit In BBBA

Companies Urge Congress To Keep Carbon Capture Credit In BBBA - Carbon Herald
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As the White House works on finding a way to push forward a new version of the Build Back Better Act (BBBA), a group of over 100 businesses, environmental organizations and labor groups addressed an open letter to congress leaders asking to keep measures like carbon capture credit in the bill. 

The BBBA envisions spending $550 billion on energy and climate initiatives, $300 billion of which is intended for new and expanded tax credits for renewables, biofuels, nuclear power plants and advanced energy manufacturing. 

The letter signed by companies and organizations like National Wildlife Federation, Summit Carbon Solutions, LanzaTech, Mars Materials, Carbon Direct and many others is penned to Nancy Pelosi, Steny Hoyer and Charles Schumer. 

It pleads to keep the incentives for clean energy and carbon management in the most recent version of Joe Biden’s famous bill. 

Relevant: Bill Introduced To Deny Carbon Credits For Oil Recovery

“It is essential that the next iteration of budget reconciliation legislation retain the extraordinary gains made on carbon management and broader clean energy and industrial incentives in the BBBA’s most recent text,” the letter says. 

The open letter follows a massive lobbying campaign launched by a large group of environmentalists and other Democratic-aligned organizations. 

Its aim is to pressure President Joe Biden and the Senate to finally advance the Build Back Better Act that has been stalled for some time now. 

Relevant: 45Q Carbon Capture Credit Raised To $85 From $50

The campaign calls for advertising, opinion essays, meetings with Senate officials and organized phone calls. 

Parallel with these efforts, nearly 300 renewable power companies also asked Congress to move on the climate provisions that are expected to increase investment in clean energy up to $750 billion over the next decade. 

These provisions are also thought to help deploy 750 gigawatts of renewable energy and battery storage in the US by 2030.

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