The bill S. 425 proposes changes to the Internal Revenue Code of 1986 to update the carbon oxide sequestration credit. It seeks to establish equal treatment for different ways qualified carbon oxide can be used or stored, including using it in oil or gas projects, and adjusts...
Simple Explanation
The bill wants to change how we give rewards or tax credits for keeping carbon dioxide safely stored or used in different ways, like in oil projects. It makes sure everyone gets treated fairly and adjusts the credits based on how much money can buy, starting in 2025.