Sen. Collins Reiterates Support for Renewable Chemicals Act
Sen. Susan Collins (R-Maine) reiterated her support for the Renewable Chemicals Act of 2017 (S. 1980) in a recent letter to our executive director Mike Belliveau, redoubling her commitment to securing funding for programs to advance the renewable chemicals industry in Maine.
"As a member of the Senate Appropriations Committee, I continue to secure funding for programs to protect Maine's forest industries and environment because, as you know, Maine's economy depends in large part on the health and stability of its forests."—Sen. Susan Collins (R-Maine)
"I was proud to introduce S. 1980, together with Senator Stabenow (D-MI) to provide a targeted, short-term production tax credit (PTC) of 15 cents per pound for the production of eligile renewable chemicals from biomass feedstock," wrote Sen. Collins. "In lieu of the PTC, producers could opt to take a 30 percent investment tax credit for qualified investments in new renewable chemical production facilities. S. 1980 has been referred to the Senate Finance Committee, where it awaits consideration."
When the bill was first introduced in the U.S. Senate in October, Belliveau said: "The Renewable Chemicals Act of 2017 is exactly the kind of public policy that can help the emerging biobased industry compete successfully against heavily subsidized petrochemicals. We urge Congress to enact this legislation to help Maine overcome the twin threats of good job loss and a changing climate."
In her letter, Sen. Collins concluded: "As a member of the Senate Appropriations Committee, I continue to secure funding for programs to protect Maine's forest industries and environment because, as you know, Maine's economy depend is in large part on the health and stability of its forests."
The Environmental Health Strategy Center thanks Sen. Collins for her continued support of the growing biobased chemicals industry in Maine.