Diverse Carbon Capture Coalition Statement on Tax Extenders and 45Q

by NEORI on November 16, 2017

November 16, 2017 – The National Enhanced Oil Recovery Initiative (NEORI) today released the following statement in response to reports that the U.S. Senate will consider a tax extenders package this year:

“NEORI applauds reported plans of Senate Finance Committee members to consider a year-end tax extenders package that includes extension and reform of the Section 45Q tax credit. Carbon capture legislation has unprecedented bipartisan, bicameral support and deserves congressional action. We encourage the Senate Finance Committee to follow the lead of one-quarter of U.S. Senators who have cosponsored the FUTURE ACT, S. 1535, and nearly 50 Members of Congress who have cosponsored the Carbon Capture Act, H.R. 3761, by ensuring that Section 45Q is included in legislative action this year.

America has led the world in demonstrating carbon capture across a range of industries, and its further deployment will boost domestic energy production, create and preserve high-paying jobs and reduce emissions.  Carbon capture merits federal incentives comparable to those long provided for other energy technologies.  Extending the Section 45Q tax credit now as part of a broader portfolio of energy policies will help ensure continued American leadership in critical carbon capture technology.”

NEORI is a diverse coalition of coal, oil, ethanol, industrial and technology companies, labor unions, and environmental and energy NGOs that supports legislative action this year on federal incentives to accelerate deployment of carbon capture at power plants and industrial facilities.

Previous post:

Next post: