Congressmen Tom Suozzi (D-NY) and Brian Fitzpatrick (R-PA) introduced the bipartisan聽Cultivating Investment in Recycling and Circular Local Economies (CIRCLE) Act. The bill would establish a targeted investment tax credit to strengthen our nation鈥檚 recycling infrastructure and bolster domestic manufacturing, while reducing waste in our environment and communities.
鈥淏efore coming to Congress, I was Mayor and a County Executive. Oftentimes, local governments bear the burden of operating waste management programs, having no choice but to pass those costs on to constituents in the form of taxes,鈥澛爏aid Suozzi.聽鈥淢aking it easier and cheaper to recycle saves local governments and taxpayers in my district, and all over the country, up to $9.4 billion as less and less recyclable waste unnecessarily goes to costly landfills and incinerators. Bringing down the cost of living by reducing waste, all the while creating jobs in the recycling industry, is a no-brainer.鈥�
鈥淲e can鈥檛 talk about building a 21st-century economy without investing in 21st-century recycling infrastructure. The bipartisan CIRCLE Act tackles this head-on鈥攑roviding a new investment credit to help communities like ours in PA-1 modernize outdated systems, strengthen domestic supply chains, and compete globally. It鈥檚 a fiscally smart, environmentally responsible solution, and part of my broader effort to grow our local economies and protect our environment, our workforce, and the future we owe our next generation,鈥澛爏aid Rep. Fitzpatrick.
“Investing in American recycling infrastructure means investing in the American economy. The CIRCLE Act offers an opportunity to galvanize investment from the private sector to help unlock more than $30 billion in economic benefits that can be derived from investments in recycling 鈥� including 200,000 new jobs, $9.5 billion taxpayer dollars saved, and 169 million tons of recyclables returned to domestic markets. The Recycling Partnership is committed to building a better U.S. recycling system and is proud to support the CIRCLE Act,鈥澛爏aid Keefe Harrison, CEO of The Recycling Partnership.
罢丑别听CIRCLE Act establishes a 30% investment tax credit that would be phased out over the next 10 years. Local municipalities, investing in the reduction of waste from their own communities, would receive a direct rebate. This bill is supported by a range of environmental and industry groups, including The Recycling Partnership, the World Wildlife Fund, the Aluminum Association, the Association of Plastic Recyclers, Keurig Dr. Pepper, and more.
鈥淎n investment in recycling is a dual investment in the environment and in American infrastructure,鈥澛爏aid Rep Suozzi.鈥淚ncreasing recycling capacity reduces waste in our communities, returns materials to the economy, and helps keep plastic, glass, aluminum, and other materials off local streets and beaches. Millions of pounds of recyclable material are landfilled or incinerated every year just because of system inefficiencies and insufficient infrastructure鈥攅xpanding the recycling system is a common-sense fix for both the recycling industry and the environment.鈥�