Bloomberg Law
Nov. 3, 2021, 1:02 PM

Biden’s Carbon-Capture Plan Hands Lifeline to Coal Plants (1)

Ari Natter
Ari Natter
Bloomberg News

Coal-fired power plants would be eligible for billions of dollars in extra tax breaks under President Joe Biden’s economic legislation if they install carbon-capture systems, an incentive that environmental groups say may delay the retirement of dozens of facilities.

Power plants that capture their carbon dioxide emissions would be eligible for a tax credit of as much as $85 per metric ton under the draft of Biden’s $1.75 trillion spending plan released by the House last week. That’s an increase from a rate of $50 a metric ton in current law.

The change could result in a single 1,000 ...