Bipartisan Carbon Capture Bill signed into law
WASHINGTON, D.C. – On Monday, U.S. Sen. John Barrasso, R-Wyo., chairman of the Senate Committee on Environment and Public Works, released a statement on the president signing the Utilizing Significant Emissions with Innovative Technologies (USE IT) Act into law.
The USE IT Act passed Congress as part of the legislation to fund the government, according to Barrasso’s statement. The Omnibus also extended the 45Q tax credit for carbon capture projects for two years.
The USE IT Act will:
- Narrowly amend the Clean Air Act to direct the Environmental Protection Agency to support carbon utilization and direct air capture research;
- Clarify that CCUS projects and CO2 pipelines are eligible for the streamlined permitting review process established by the FAST Act;
- Direct the Council on Environmental Quality to establish guidance to expedite the development of CCUS facilities and CO2 pipelines; and
- Establish task forces to hear input from affected stakeholders for updating and improving guidance over time.
The 45Q tax credit incentivizes utilities and other industrial sources to build-out CCUS projects, including Class VI wells. The projects will reduce the energy sector’s and industrial sector’s carbon footprint, according to Barrasso.
“President Trump has signed important legislation to help grow Wyoming’s economy and reduce carbon emissions through innovation,” said Barrasso. “Wyoming is already leading the way on carbon capture research. At the Integrated Test Center in Gillette, researchers are developing innovative solutions that will allow us to keep using Wyoming’s natural resources. The USE IT Act will lead to considerably more groundbreaking research. By converting carbon emissions into valuable and marketable products, we can help address a changing climate and boost Wyoming’s economy at the same time.”
Source: wyomingnews
