Groups Call For Action on 45Q Tax Credit

Dec. 22, 2023
Goal is to create parity between credit levels for projects utilizing captured CO2 as a feedstock to manufacture valuable products and those associated with geologic storage.

The Carbon Capture Coalition, along with over 50 diverse organizations, is urging Congress to prioritize adjustments to the federal Section 45Q tax credit. In an open letter, they advocate for immediate inflation indexing of 45Q and equal credit levels for projects using captured CO2 for product manufacturing and those in geologic storage. The Coalition emphasizes the crucial role of 45Q in driving emissions reduction and job creation, citing its impact on various sectors. While recognizing past modifications, they stress remaining gaps in federal policy that could hinder widespread deployment of carbon management technologies, urging Congress to reinforce American leadership in climate-essential technologies.

You can find the full letter here.

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