Federal RuleAug 21
62
DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
RuleLabor DepartmentFederal Contract Compliance Programs OfficeSignificant Wallet
119-s-425119th CongressWALLET
Enhancing Energy Recovery Act
Sponsored By: Senator Barrasso, John [R-WY]
Introduced
Summary
Parity and new base amounts for the Section 45Q carbon credit. This bill would amend Section 45Q of the Internal Revenue Code to treat different dispositions and uses of qualified carbon oxide consistently and to change the credit dollar amounts and related statutory cross‑references.
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- Carbon capture project owners and taxpayers claiming Section 45Q would see three clearly defined eligible pathways for qualified carbon oxide: secure geological storage with no further use by the taxpayer; use as a tertiary injectant in a qualified enhanced oil or natural gas recovery project followed by storage; and utilization as described in subsection (f)(5).
- The bill would set a new base credit structure: $17 for taxable years beginning in 2025 and 2026, and an inflation‑adjusted amount after 2026 using 2025 as the base year. It also directs substituting $36 for $17 in specified statutory places.
- The changes would apply to taxable years beginning after December 31, 2024 and include a conforming amendment to section 6417 to align cross‑references.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Larger carbon capture tax credit for businesses
If enacted, businesses that claim the section 45Q carbon capture tax credit would use new per-ton dollar rules. For tax years starting in 2025 and 2026 the per-ton amount would be $17. For tax years starting after 2026 the per-ton amount would be $17 times an inflation factor that uses 2025 as the base year. The bill would also instruct earlier rules to substitute $36 wherever $17 appears. It would define three eligible ways captured carbon can be stored or used: secure geological storage not otherwise used, use as a tertiary injectant for enhanced oil or gas recovery with disposal in secure geological storage, or uses described in subsection (f)(5). These changes would apply to tax years beginning after December 31, 2024.
Sponsors & CoSponsors
Sponsor
Barrasso, John [R-WY]
WY • R
Cosponsors
Sen. Lankford, James [R-OK]
OK • R
Sponsored 2/5/2025
Sen. Cassidy, Bill [R-LA]
LA • R
Sponsored 2/5/2025
Sen. Hoeven, John [R-ND]
ND • R
Sponsored 2/5/2025
Sen. Justice, James C. [R-WV]
WV • R
Sponsored 2/5/2025
Sen. Sheehy, Tim [R-MT]
MT • R
Sponsored 2/5/2025
Sen. Cramer, Kevin [R-ND]
ND • R
Sponsored 2/20/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov