ISRI Applauds RISE Act Introduction

The Institute of Scrap Recycling Industries, Inc. is applauding Senators Olympia Snow (R-ME) and Tom Carper (D-DE) for introducing S. 1587, the Recycling Investment Saves Energy (RISE) Act. The RISE Act will help increase and improve recycling in the United States by providing tax incentives for purchasing recycling equipment.

The bill creates an accelerated depreciation allowance of 50 percent in the first year to purchasers of new recycling equipment installed after December 31, 2006.

"The RISE Act will enable recyclers to buy and deploy equipment with improved technologies sooner and operate with greater efficiency." said Robin Wiener, ISRI president. "This bi-partisan legislation will have a significant positive impact on all recycling sectors in the United States."

The RISE Act also helps clarify that materials destined for recycling are considered valuable "scrap" rather than "waste." Waste is material destined for landfills.

"This important distinction will help change the regulatory impediments that hurt recycling efforts in America," said Wiener.

"The RISE Act demonstrates the value of the Congressional Recycling Caucus as a means to educate lawmakers about the contribution recycling makes to the U.S. economy, global trade, resource sustainability, and the environment," Wiener added. The Recycling Caucus currently boasts membership of over 100 Senators and Representatives. The legislation’s lead sponsors are co-chairs of the Senate Recycling Caucus.

ISRI combined efforts with recycling coalition partners the American Forest and Paper Association (AF&PA), the Paper Recycling Coalition (PRC), and the American Glass Institute (AGI), to promote the benefits the RISE Act aims to accomplish.