WASHINGTON – U.S. Senator Kevin Cramer (R-ND), a Senate Environment and Public Works (EPW) Committee member, joined his colleagues in introducing the 45Q Carbon Capture Utilization and Storage (CCUS) Tax Credit Amendments Act of 2020, bipartisan legislation to make targeted changes designed to maximize the utility of the carbon capture tax credit.
“North Dakota is leading the way in the development of clean, reliable energy by investing and applying carbon capture and use technologies to our lignite, oil, and ethanol facilities. Our bill will allow our innovators to get the most out of the tax credits we created, incentivizing further investments and ultimately lowering emissions,” said Senator Cramer. “I appreciate Senator Capito and Senator Whitehouse’s continued leadership on this issue and urge my colleagues to support our bipartisan legislation.”
The improvements in this legislation ensure the credit is utilized to its full potential. Specifically, the bill:
The bill is led by Senators Shelley Moore Capito (R-WW) and Sheldon Whitehouse (D-RI) with Senator Cramer and Senators John Barrasso (R-WY), John Hoeven (R-ND), and Tina Smith (D-MN) joining as original cosponsors. Learn more here.
This is the latest development in Senator Cramer’s ongoing efforts – who has jurisdiction over this issue through his seat on the EPW Committee – to ensure the 45Q carbon capture tax credit is properly implemented and used to its full potential. His efforts include: