The legislation aims to bridge that gap by providing tax incentives for companies that use American-grown biomass to create renewable materials.
Support tax incentives for companies that use American-grown biomass to produce biobased chemicals and materials.
Occurrences
Evidence
legacy_unverified · Source version not recorded · locator unknown
GovInfo bill text shows H.R. 8137 was introduced March 27, 2026 by Rep. Michelle Fischbach for herself and Rep. Nikki Budzinski. The bill would create a renewable materials production credit equal to 10 cents per pound of qualified renewable material, including chemicals produced from biomass, and excludes products made from biomass not manufactured, produced, grown, or extracted in significant part in the United States or a U.S. possession. It also creates a 30 percent renewable materials investment credit.
legacy_unverified · Source version not recorded · locator unknown
Rep. Budzinski's official release says she and Rep. Fischbach introduced the Biobased Materials Investment and Production Act to incentivize production of biobased chemicals and materials. It says the bill provides tax incentives for companies that use American-grown biomass to create renewable materials, including a 10-cent-per-pound production credit up to $10 million per year or a 30 percent investment tax credit for constructing or retrofitting manufacturing plants.
Assessments
Budzinski materially supported the promised policy by jointly introducing legislation creating production and investment tax credits for companies using U.S.-grown or U.S.-sourced biomass to produce renewable/biobased chemicals and materials. Because the promise was to support tax incentives, not necessarily to secure enactment, formal sponsorship of directly matching federal legislation counts as delivery. The available evidence shows introduction and referral rather than passage, so the delivery is based on support/advancement, with later-term timing as provided in the evidence.