Statement from CRES Executive Director Heather Reams:
“Even a child can understand that using technology to pull carbon dioxide from the atmosphere, to prevent it from escaping in the first place, and to use that CO2 for beneficial purposes is by all measures a good idea worth championing. By offering a tax credit to companies participating in carbon capture and sequestration, section 45Q activated America’s most powerful force for good – our innovation base – to the good of our planet. The 30 projects launched since this provision was first instituted, and the untold others still in development, deserve every opportunity to continue building upon their early successes. America’s innovators deserve the certainty that their country will continue to respect and applaud their efforts to ensure a clean and healthy future for future generations. The taxpayer deserves commonsense solutions like the 45Q tax credit to solve big environmental challenges in a way that does not hamper our nation’s prosperity.
We urge Congress to extend the 45Q carbon sequestration tax credit to support America’s innovators, our environmentally responsible companies, and our future.”