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Exclusive-White House, top Democrats reach deal in budget bill on carbon capture credit -sources By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: View of Washington’s White House from the North Lawn on August 19, 2021. REUTERS/Cheriss June

WASHINGTON, (Reuters) – The White House has reached an agreement with top Democratic legislators to increase a tax credit for carbon capture and storage projects. This could be a move that will help strengthen support for President Joe Biden’s budget reconciliation bill. Two sources familiar with the matter stated.

White House officials and legislators, including Senators Ron Wyden & Sheldon Whitehouse, are working out the agreement. It would bring the so-called 45Q tax credit for carbon cap projects in heavy industrial, such as cement, steel plants and cement, up to $85 per unit.

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