Representatives of the U.S. biofuels and bioenergy industries are among more than 160 companies, trade groups, labor unions and policy organizations that are calling on federal lawmakers to maintain support for the 45Q tax credit.&nbsp;The 45Q tax credit, first established by the Energy Improvement and Extension Act of 2008, was expanded and amended by both the Bipartisan Budget Act in 2018 and the Inflation Reduction Act of 2022. The credit supports carbon capture, utilization and storage (CCUS) projects. &nbsp;The groups on Jan. 28 sent an open letter to Congressional leadership expressing their “unwavering support for the Section 45Q tax credit.”“Carbon management technologies, including carbon capture, removal, reuse, transport, and storage, are crucial tools for balancing the increasing need for affordable, reliable energy that drives the American economy, with the imperative to maintain the U.S.'s global leadership position in the demonstration and deployment of these technologies while countries like China, Canada, the U.K., and the EU continue to invest significantly in this expanding sector,” the groups wrote. “With this in mind, we strongly urge Congress to maintain critical bipartisan support for the 45Q tax credit and oppose any efforts to weaken its utility to American businesses.”The letter was led by the Carbon Capture Coalition. ADM, American Biomass Energy Association, Coalition for Renewable Natural Gas, Gevo Inc., Green Plains Inc., Growth Energy, LanzaTech Inc., LoCI Controls Inc., Marquis Inc., POET LLC, and Renewable Fuels Association are among the 160-plus groups to sign the letter.&nbsp;A full copy of the letter is available on the Carbon Capture Coalition <a href="https://carboncapturecoalition.org/coalition-leads-national-multi-stakeholder-call-on-congress-to-maintain-critical-support-for-45q-tax-credit/">website</a>

2020/09/CCCLogo_15998559467362_largethumb.jpg

2020/09/CCCLogo_15998559467362_thumb.jpg

2020/09/CCCLogo_15998559467362.jpg

Representatives of the U.S. biofuels and bioenergy industries are among more than 160 companies, trade groups, labor unions and policy organizations that are calling on federal lawmakers to maintain support for the 45Q tax credit. 

Biofuel, bioenergy groups urge continued support for 45Q tax credit

Related Stories

Ethanol industry to convene in Omaha for 41st annual Fuel Ethanol Workshop & Expo

EPA: 1.82 billion RINs generated in March

EPA: 5 new SRE petitions filed, 161 SRE petitions currently pending

Vietnam reduces MFN tariff rate for ethanol

CoBank cites potential export disruptions as the most significant challenge facing ethanol producers

Upcoming Events

2025 International Fuel Ethanol Workshop & Expo

Carbon Capture & Storage Summit

Biofuel, bioenergy groups urge continued support for 45Q tax credit.css-7jxktu{position:absolute;bottom:0px;left:0px;right:0px;height:3px;border-radius:3px;background-color:var(--chakra-colors-brandBlack);}