Pascrell, Fitzpatrick Reintroduce Green Bill to Help Phase-out Fossil Fuels

Press Release

U.S. Reps. Bill Pascrell, Jr. (D-NJ-09) and Brian Fitzpatrick (R-PA-01) have reintroduced 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 biobased products and help build a resilient biobased economy. Applicants for the tax credit will be evaluated on job creation, innovation, environmental benefits, commercial viability, and contribution to U.S. energy independence.

"For our children and grandchildren, America must lead the world in the fight against climate change," said Rep. Pascrell. "Our bipartisan legislation today will help boost our production of renewable chemicals and clean energy and decrease our dependence on the fossil fuel industry. Critically, the Renewable Chemicals Act focuses on job creation and innovation in these burgeoning industries to protect American workers. This bill can be a game-changer in our quest for a cleaner environment and the fight against climate change."

"Legislative action taken, or not taken, by this Congress on this issue of climate change will be felt for generations," said Rep. Fitzpatrick. "It is imperative our nation continues diligently working towards building an economy that is supported by renewable energy, and tax credits to boost innovation and job creation in the production of renewable chemicals and biobased products is a crucial piece to our future economic success."

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