Bipartisan Green Bill introduced in the US to boost renewable chemicals and phase-out fossil fuels

U.S. House representatives, Bill Pascrell, Jr. (Democrat) and Brian Fitzpatrick (Republican) have introduced the Renewable Chemicals Act, legislation that will create an allocated tax credit for production of qualifying renewable chemicals from biomass or investment in production facilities. The bill will accelerate commercialization of the renewable chemicals and bio-based products and help build a resilient bio-based economy. Applicants for the tax credit will be evaluated on job creation, innovation, environmental benefits, commercial viability, and contribution to U.S. energy independence.

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