Tester Introduces Bipartisan Bill To Support Energy Jobs
Senator’s Bill Has Broad Support from Coal Companies, Environmental Groups & Labor Organizations
(U.S. Senate)-U.S. Senator Jon Tester has introduced bipartisan legislation to encourage technological innovation, reduce carbon emissions, create jobs, and support Montana’s growing energy economy.
Tester’s bill extends the 45Q tax credit, which supports existing energy resources like coal and natural gas by encouraging the development and use of carbon capture, utilization and storage-while also incentivizing technology to transform carbon emissions into useable products.
“Montana is rich with natural resources that create good-paying jobs, and we have a responsibility to find workable solutions to keep them competitive,” Tester said. “This bill will invest in new technology to ensure that we can responsibly take advantage of these resources while protecting jobs and our clean air and water for future generations.”
A wide cross-section of coal companies, utilities, environmental groups, and labor organizations support the bill.
Tester’s bipartisan bill would extend and expand the 45Q tax credit to provide certainty to utilities and other industrial sources, and would incentivize industrial carbon capture projects that plan to use CO2 and CO for enhanced oil recovery and convert carbon dioxide into useable products.
In addition to extending the 45Q tax credit, the bill strengthens support for carbon capture technologies by increasing the “commence construction” window for carbon capture projects from five to seven years and by increasing the number of years to claim the credits from 10 to 12 years.
This legislation is sponsored by Senators Heidi Heitkamp (D-ND), Sheldon Whitehouse (D-RI), and Shelley Moore Capito (R-WV).