Daily on Energy: Manchin and Stabenow propose tax credits for retrofitting factories for clean energy Print this article
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LATEST PITCH TO FOSSIL FUEL WORKERS: Sens.
Joe Manchin and Debbie Stebanow are aiming to make good on Democrats’ promises to fossil fuel workers by expanding an advanced manufacturing tax credit program deployed as part of the Obama-Biden administration’s Recovery Act.
Their
American Jobs in Energy Manufacturing Act introduced today would build on the 48C tax credit by offering $8 billion to build or retrofit manufacturing and industrial facilities to make clean energy technologies such as battery storage, carbon capture and removal, low-emissions vehicles, energy efficiency equipment, and more.
DSM president presses for carbon pricing after Chamber s 180-degree flip washingtonexaminer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtonexaminer.com Daily Mail and Mail on Sunday newspapers.
The meat industry is starting to get squeezed from both sides.
China is rebuilding its hog herd faster than expected, boosting demand and prices for soybeans and corn used to feed animals. And with its herds growing quickly, the worldâs biggest consumer may soon need to import less meat.
That twin dynamic â elevated feed costs and likelihood of smaller meat shipments to China in 2021 â threaten to shrink profits for livestock and poultry farmers in the U.S, Brazil and elsewhere, as well as the companies that process the animals into meat. Even worse, producers are getting hit just as they begin emerging from the coronavirus pandemic that added costs and lowered domestic prices for animals.
Rising cost to feed animals squeezing meat producers news-journal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news-journal.com Daily Mail and Mail on Sunday newspapers.
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Reps. Bill Pascrell Jr., D-N.J., and Brian Fitzpatrick, R-Pa., on Dec. 4 introduced the Renewable Chemicals Act, which aims to create an allocated tax credit to support the production of biobased chemicals or support investment in production facilities that produce renewable chemicals.
The bill would establish a production tax credit for renewable chemicals equal to 15 percent of the sales price of each pound of renewable chemical produced by the taxpayer or for the taxpayer by a contract manufacturer and sold for fair market value. The credit would be reduced for chemicals do not have 100 percent biobased content. Eligible renewable chemicals must be produced in the U.S. using renewable biomass and have at least 95 percent biobased content. Chemicals sold or used for the production of food, feed, fuel or pharmaceuticals would not be eligible. Chemical intermediates, however, would be considered eligible.