## Legislative bill overview

The bill H.R. 821 seeks to amend the Internal Revenue Code to provide tax incentives for the development and installation of carbon capture and storage technology. It aims to promote the adoption of clean energy technologies by offering tax credits to businesses that invest in carbon capture, with the intent of reducing greenhouse gas emissions and addressing climate change.

## Why is this important

This legislation is significant as it aligns with the broader goals of reducing carbon emissions and combating climate change. By incentivizing businesses to invest in carbon capture technologies, the bill could stimulate innovation, create jobs in the clean energy sector, and potentially lead to a decrease in the carbon footprint of industrial activities. Furthermore, it demonstrates a legislative commitment to addressing environmental issues through market-driven solutions.

## Potential points of contention

• Cost implications for taxpayers if tax credits significantly reduce federal revenue.


• Effectiveness of carbon capture technology in actually reducing emissions, with some arguing it may prolong reliance on fossil fuels.


• Equity concerns regarding the distribution of tax incentives, which may disproportionately benefit larger corporations over smaller companies.


• Potential for regulatory challenges in implementing and monitoring carbon capture initiatives.