New tax credits would help businesses make and invest in chemicals from renewable sources.
This bill would create new tax credits for businesses that produce chemicals from renewable materials or invest in factories to make them. These credits aim to encourage more environmentally friendly chemical production and would be capped at $500 million nationally, with a $25 million limit per taxpayer. It would change the tax code to offer financial incentives for these types of chemical production.
Today, the tax code does not offer specific tax credits for making renewable chemicals or investing in their production facilities. If this bill becomes law, businesses could get a tax credit of 15 percent of the sales price for producing qualifying renewable chemicals or a 30 percent credit for investing in new production facilities, up to a national total of $500,000,000 and $25,000,000 per taxpayer.
S 3632 · 119th Congress · January 14, 2026 · AI Summary by gemini-2.5-flash · 8/10
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