H.R. 8137 — To amend the Internal Revenue Code of 1986 to establish tax credits for the production of, and investment in, certain renewable materials.

H.R. 8137 — To amend the Internal Revenue Code of 1986 to establish tax credits for the production of, and investment in, certain renewable materials. | JustPolicyThis legislative initiative aims to create tax incentives that promote the production and investment in renewable materials, aligning with broader efforts to support sustainability and reduce dependence on fossil fuels. The bill introduces two main tax credits: one for the production of renewable materials and another for investments in facilities that produce these materials. Specifically, taxpayers can receive 10 cents for every pound of qualified renewable material produced and sold or used in their business.