We just achieved one the biggest CDR Policy Milestones last week -? but it’s far from “Mission Accomplished” When I first joined Charm Industrial more than two years ago, many Carbon Dioxide Removal (CDR) technologies were not only excluded from policy mechanisms, they were unknown to many in Congress. We’ve been working to demonstrate all of the economic benefits that this new industry can bring and the value of *leveling the playing field* for CDR technologies to compete. Last week, we hit an exciting milestone with the introduction of the first bipartisan technology neutral tax credit for CDR. Introduced by U.S. Senators Michael Bennet (D-CO) and Lisa Murkowski (R-AK), the Carbon Dioxide Removal Investment Act creates a pathway for new economic development and investment by helping CDR technologies grow. If passed, this bill would help Charm create jobs, plug orphan wells, and support wildfire prevention work by continuing to innovate and grow our operations. In Colorado alone, we’ve more than tripled our workforce in the last year, and we’re excited to continue that growth. It’s been a pleasure working with the broader CDR community and our champions in Congress to make this bill a reality!
Today, we were proud to work with U.S. Senators Michael Bennet (D-Colo.) and Lisa Murkowski (R-Alaska) to introduce important bipartisan legislation to stimulate the carbon removal market in the United States. The Carbon Dioxide Removal Investment Act would update existing tax code to right-size it to the current industry, where innovative American companies are using a variety of methods to permanently remove carbon dioxide pollution. Currently, too many carbon removal companies are unable to access tax incentives because their specific technology is not reflected in the tax code. That's why lawmakers and businesses across the United States are calling for this critical update to support the full spectrum of carbon removal tools in our toolbox. “This tax credit for carbon removal will allow innovative American companies working to permanently remove carbon pollution from our atmosphere to access critical incentives that can power their work — in turn unlocking climate benefits, economic growth, and in-demand jobs across the country,” said CRA Executive Director Giana Amador on the bill’s introduction. We’re so grateful to Senators Bennet and Murkowski and all of our partners who helped make this happen. Let’s do this! https://lnkd.in/efWV6jfV