Bipartisan Members to Congressional Leadership: Include Carbon Capture Energy Innovation Measures in Future Economic Recovery Package
May 7, 2020 | Blog
Nearly a dozen Members of Congress penned a letter to congressional leaders this week urging inclusion of carbon capture and energy innovation measures in a future economic recovery package.
The letter includes specific recommendations on carbon capture:
- Extend the “Commence Construction” Date for the 45Q Tax Credit by Ten Years
- Enact the “Carbon Capture Modernization Act”
- Implement Direct Pay or an Offset from the BEAT for the 45Q and 48A Tax Credits
- Provide Funding for Commercial Demonstration Grants
- Increase Funding for CarbonSAFE Projects
These recommendations are in keeping with the targeted recommendation package that the Carbon Capture Coalition sent to Congress last week aimed at providing immediate support for current carbon capture projects at risk of delay or cancellation due to the COVID-19 crisis and to increase the number of projects in the near-term development pipeline.
The Coalition recommendations were drawn from a broader federal policy blueprint agreed to by all Coalition participants last year and prioritized in the COVID-19 context to spur economic activity and protect and create high-wage jobs.