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Congressman Brian Fitzpatrick (Pennsylvania) and Tom Suozzi (New York) introduced into the United States House of Representatives legislation styled:
Cultivating Investment in Recycling and Circular Local Economies (CIRCLE) Act (“CIRCLE Act”).
The CIRCLE Act is described as bipartisan legislation that would:
- Create a targeted investment tax credit.
- Expand and modernize our nation’s recycling infrastructure.
- Strengthen domestic manufacturing.
- Reduce the volume of waste sent to landfills and incinerators.
The CIRCLE Act establishes a 30% investment tax credit that would be phased out over 10 years for qualified investments in new or upgraded recycling infrastructure.
Municipalities investing directly in waste reduction efforts would receive a direct rebate. The stated objective is to ensure local governments can modernize without passing the burden on to taxpayers.
A copy of the CIRCLE Act can be downloaded here.
