S. 5212, titled the “Enhanced Energy Recovery Act,” is designed to amend the Internal Revenue Code of 1986. It changes the carbon oxide sequestration tax credit to ensure equal benefits for different uses of carbon oxide, including geological storage, use as an injectant in...
Simple Explanation
The "Enhanced Energy Recovery Act" is a new rule that changes how a special tax credit works for catching carbon, making sure everyone gets a fair deal no matter how they use the carbon, like storing it or using it to get more oil. The amount of this tax credit will change with inflation, to make sure it stays useful over time.