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![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-](ViewImageLocal?handle=hein.crs/govedxo0001&div=1&collection=&method=preview&ext=.png&size=3)