Washington — The U.S. Senate Finance Committee has approved a recycling tax credit measure proposed by Sen. Jim Jeffords, I-Vt. The measure would provide businesses with 15 percent tax credits for the purchase of equipment used in the processing and sorting of recyclable materials. The proposal now moves to the full Senate, where it will be considered as part of the energy bill.
The provision has won the support of the Silver Spring, Md.-based Solid Waste Association of North America (SWANA). “While we believe there is more to be done to encourage recycling and product stewardship, your legislation makes a great step in the right direction,” said John Skinner, executive director and CEO of SWANA, in a letter he wrote to Jeffords.