WASHINGTON, D.C. —Today, U.S. Senators Shelley Moore Capito (R-W.Va.), Ranking Member of the Senate Environment and Public Works (EPW) Committee, and Joe Manchin (D-W.Va.), Chairman of the Senate Energy and Natural Resources Committee, introduced legislation to reduce greenhouse gas emissions. Their bill would make tax credits that encourage carbon capture projects more available and easier to use.
“The United States has an opportunity to be a leader when it comes to carbon capture technologies, and this legislation will help us achieve that goal,” Senator Capito, Ranking Member of the Senate EPW Committee, said. “Not only will it help us protect our coal and natural gas industries, which are so critical to states like West Virginia, but this legislation promotes domestic energy production and reducing our power and manufacturing sector emissions. I’m proud to reintroduce this bipartisan legislation that will make a big difference in putting American innovation to work growing our economy and combatting climate change in a responsible way, regardless of the current economic circumstances.”
“Carbon capture, utilization, and sequestration (CCUS) is one of the most critical technologies to combat climate change globally. As we transition to a cleaner energy future, increased investment in CCUS and carbon removal technologies will reduce emissions, keep our energy affordable and reliable, and ensure our continued climate leadership. Enhancing the 45Q and 48A tax credits will encourage increased commercialization of CCUS and Direct Air Capture technologies across the nation while supporting clean energy, infrastructure, and manufacturing jobs across the country, including in traditional energy producing communities like those in West Virginia. I look forward to working with my colleagues on both sides of the aisle to ensure this legislation becomes law,” Senator Manchin, Chairman of the Senate ENR Committee, said.
The CCUS Tax Credit Amendments Act would:
You can access a summary of the bill here and full text of the bill here.
The bipartisan Carbon Capture Utilization and Storage Tax Credit Amendments Act—led by Senators Capito and Tina Smith (D-Minn.)—is also supported by Senators Sheldon Whitehouse (D-R.I.), Kevin Cramer (R-N.D.), Brian Schatz (D-Hawaii), John Hoeven (R-N.D.), John Barrasso (R-Wyo.), Chris Coons (D-Del.), Chuck Grassley (R-Iowa), Ben Ray Luján (D-N.M.), and Joni Ernst (R-Iowa). This legislation would make improvements to ensure that carbon capture utilization and storage (CCUS) credits are utilized to their full potential to create manufacturing, construction, and engineering jobs and prevent carbon dioxide emissions.
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