S 4222
End Polluter Welfare for Enhanced Oil Recovery Act of 2026
Progress
Timeline
- Mar 26Read twice and referred to the Committee on Finance.
Summary
This bill would set an expiration date for a federal tax credit that businesses can currently claim for capturing and storing carbon dioxide emissions. **What it does:** The bill would amend the tax code to establish when the carbon oxide credit (also known as the 45Q credit) would end, rather than letting it continue indefinitely. **Who it affects:** Businesses and facilities that capture carbon dioxide from their operations or directly from the air, such as power plants, manufacturing facilities, and carbon capture companies that rely on this tax incentive. **What would change:** Companies would have a clear deadline for when they can no longer claim this tax credit for carbon capture projects. This could affect investment decisions in carbon capture technology and potentially reduce the financial incentive for businesses to invest in these emissions-reducing technologies after the end date. The bill is currently under review in committee and has not yet been voted on by Congress.
How This Affects You
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