Carbon Dioxide Removal Investment Act

The Carbon Dioxide Removal Investment Act creates a tax credit for businesses that remove carbon dioxide from the atmosphere. It provides credits of $110 per metric ton for projects using biomass feedstocks and $250 per metric ton for other carbon removal methods, with inflation adjustments. The credit applies to projects placed in service between 2025 and 2035, requiring rigorous monitoring, reporting, and verification to ensure genuine carbon removal. The bill includes specific definitions of qualifying projects and prevents double-counting with other environmental tax credits. This policy aims to incentivize carbon removal technologies that store carbon for at least 1,000 years.