CCU Parity Act of 2023

The CCU Parity Act of 2023 increases tax credits for companies that capture and utilize carbon dioxide emissions. It raises the credit to $12 per metric ton for carbon used in certain processes and $17 per metric ton for carbon utilized in other ways, with future annual adjustments for inflation starting in 2025. This directly affects industrial facilities, such as cement or steel plants, that capture carbon dioxide from their operations. The changes apply to carbon captured after December 31, 2023, under existing tax code provisions.