'Promoting the utilization of captured CO2 in petrochemicals, plastics, and fuels, as your legislation would encourage, will perpetuate environmental justice harms and subsidize the oil and gas industry to do it.'
last week by Sens. Sheldon Whitehouse and Bill Cassidy and Reps. David Schweikert and Terri Sewell , the legislation would increase the 45Q tax credit for carbon capture and utilization "to match the incentives for carbon capture and storage for both direct air capture and the power and industrial sectors."This bill does not advance climate solutions, but is rather a giveaway to fossil fuel companies and other corporate polluters under the guise of climate action.
"As laid bare in an investigation from the U.S. Treasury Inspector General for Tax Administration, the 45Q tax credit is rife with abuse as credits are improperly claimed," the letter further notes.
According to dozens of groups representing communities across the country, "The carbon utilization fantasy should be abandoned, with focus restored on the solutions we know will help combat the climate crisis, like renewable energy and storage, electrification, energy efficiency, real zero-waste materials systems, agroecology, and more.
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