Press Releases

Washington D.C. – Congressman Scott Perry (PA-10) introduced the 45Q Repeal Act to repeal the 45Q tax credit for carbon capture and sequestration.

The bill will reduce overregulation and fraud, and has the added benefit of terminating a wasteful tax credit that we can now negotiate for real tax breaks in the pending reconciliation package.

“We've got to get the federal government out of every facet of our lives,” said Congressman Perry. “The American People demand that we cut waste, fraud, and abuse, and don’t want their tax dollars being used to prop up inefficient and market-distorting technology.”

The 45Q tax credit subsidizes technologies that serve no purpose beyond distorting energy markets.

There are serious concerns about the integrity of the tax credit; for example, the Treasury Inspector General for Tax Administration found nearly $1 billion in claims for unverified activities.

The 45Q Repeal Act is a first step in restoring sanity to our energy sector and allowing markets to work by demand, not disrupted by subsidies from the federal government.

This bill protects the Taxpayer and restores market discipline by removing insidious and wasteful tax incentives for market-distorting and inefficient technology.