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1 1 (July 28, 2021)

handle is hein.crs/govedxo0001 and id is 1 raw text is: Congressional ____ Research Service informing the I gislative debate since 1914____________________ Carbon Capture and Sequestration Tax Credit (Section 45Q) Legislation in the 117th Congress July 28, 2021 The tax credit for carbon oxide sequestration (Internal Revenue Code [IRC] Section 45Q) is intended to incentivize investment in carbon capture and sequestration technologies (also known as carbon capture and storage [CCS]). While deployment of CCS technology has been limited to date, academics and industry experts (see here, here, and here) believe the technology has great potential for achieving GHG emissions reductions. One barrier to CCS deployment has been cost. Tax credits, such as the current-law tax credit in Section 45Q, are one policy option for addressing this barrier. There are a number of proposals in the 117th Congress to modify and expand Section 45Q. This Insight highlights the key changes that would be made to Section 45Q across different legislative proposals. Legislative Proposals in the 117th Congress to Modify Section 45Q Proposals introduced on a largely stand-alone basis are summarized and compared in Table 1. Congressional Research Service https://crsreports.congress.gov IN11710 CRS INSIGHT Prepared for Membersand Committeesof Congress-