WASHINGTON (Reuters) – The White House and top Democratic lawmakers have agreed to boost a tax credit for industrial carbon capture projects in a deal that could help solidify support for the budget reconciliation bill at the heart of President Joe Biden’s economic agenda, two sources with knowledge of the matter said.
The agreement, being worked out by White House officials and lawmakers, including Senators Ron Wyden and Sheldon Whitehouse, and some of their counterparts in the House, would raise the so-called 45-Q tax credit for carbon capture projects in heavy industry, such as cement and steel plants, to $85 per metric ton.
(Reporting by Jarrett Renshaw and Timothy Gardner)
