Tim Sheehy (R-MT)

Carbon Resource Innovation Act

S. 3778 · Senate bill Taxation

A Republican bill with 2 Democratic cosponsors · See all 3 cosponsors

Last activity — Read twice and referred to the Committee on Finance.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "Carbon Resource Innovation Act," aims to amend the Internal Revenue Code of 1986. It seeks to expand the existing carbon oxide sequestration credit. Specifically, the amendment includes solid or liquid carbon capture facilities in the credit program. This expansion applies to carbon captured in liquid or solid form by carbon capture equipment. The changes include specific measurement and verification requirements for the captured carbon.

Yes· 3 of 4

  • Scored +5

    Does this cut the pollution that drives climate change?

    The bill incentivizes the capture of carbon that would otherwise be released into the atmosphere as a greenhouse gas.

  • Scored +3

    Would business owners be better off under this?

    The bill provides new tax credit opportunities for businesses operating carbon capture facilities.

  • Scored +2

    Does this cut taxes for small businesses?

    The bill expands tax credits for facilities that capture carbon in solid or liquid form.

The opposite

No question was scored the opposite.