Source: United States Senator Kevin Cramer (R-ND)
WASHINGTON – U.S. Senator Kevin Cramer (R-ND), a Senate Environment and Public Works Committee member, joined Senators Ben Ray Luján (D-NM) and John Barrasso (R-WY) in introducing the Coordinated Action to Capture Harmful (CATCH) Emissions Act, a bipartisan bill to improve the 45Q carbon capture utilization and storage (CCUS) tax credit by increasing the credit value for carbon capture projects and by eliminating the annual carbon capture thresholds.
“North Dakota is at the forefront of carbon capture and establishing itself as a world leader in the development of clean, reliable energy by applying these technologies to lignite, oil, and ethanol facilities,” said Senator Cramer. “Our bill would encourage further utilization of the carbon capture tax credit for projects of all sizes and increase the value of the credit for capture and use, both of which would lead to more investment, more innovation, and a responsibly reduced carbon footprint.”
The CATCH Act would build on the Carbon Capture Utilization and Storage Tax Credit Amendments Act, a bipartisan bill Senator Cramer helped introduce earlier this year which would extend the commence construction window for CCUS projects and allow for direct payment of the tax credit. If passed, the CATCH Act would:
- Increase the 45Q credit value for CCUS projects at industrial facilities and power plants to incentivize wider adoption, and
- Eliminate the annual CO2 capture thresholds to enable more facilities and industries to participate and qualify for the credit.
Efforts in North Dakota to utilize the 45Q tax credit include Project Tundra, a project led by Minnkota Power Cooperative, in partnership with the University of North Dakota’s (UND) Energy and Environmental Research Center (EERC), to retrofit the Milton R. Young Station with carbon capture technology. Senator Cramer, a strong supporter of Project Tundra, recently hosted a working breakfast in Bismarck with Environmental Protection Agency (EPA) Administrator Michael Regan where project leaders could brief him on their efforts. Learn more here.
Mac McLennan, President and CEO of Minnkota Power Cooperative, endorsed the CATCH Act and thanked Senator Cramer for his support of the bill.
“As the energy industry faces rapid change, Senator Cramer’s leadership on preserving reliable, affordable and environmentally responsible electricity is more important than ever,” said McLennan. “Carbon capture technologies, like the Minnkota-led Project Tundra, remain critical to answering our nation’s call for a lower carbon footprint, while retaining the resilient generators that provide irreplaceable stability to the electric grid. The CATCH Act is an important policy support enhancement that would bring Project Tundra and many other visionary projects a step closer toward commercialization.”
Senators Cramer, Lujan, and Barrasso are joined on the bill by Senators Chuck Grassley (R-IA), Tina Smith (D-MN), and Chris Coons (D-DE).