Businesses would get new tax credits for making and investing in renewable materials.
This bill would create new tax credits for businesses that make or invest in certain renewable materials. These credits aim to encourage more production and investment in materials made from biomass, like plant-based chemicals, but not fuels or food. It would help businesses lower their tax bills if they produce or invest in these specific materials.
Currently, federal tax law does not offer specific tax credits for making or investing in renewable materials like plant-based chemicals. If this bill becomes law, businesses would get a 10-cent tax credit for every pound of qualified renewable material they produce, up to $10,000,000 per facility each year. They would also get a tax credit equal to 30 percent of their investment in facilities that make these materials.
HR 8137 · 119th Congress · March 27, 2026 · AI Summary by gemini-2.5-flash · 9/10
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Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.