Growth Energy wants IRS to offer tax credits on CCS

In Washington, Growth Energy CEO Emily Skor submitted written comments on the Internal Revenue Service’s (IRS) proposed regulations under section 45Q, a performance-based tax credit for carbon capture projects. In her letter, Skor called on the agency to offer credit for carbon dioxide captured for food and beverage purposes, which would promote investment in new carbon capture capabilities and ensure that the food and beverage industry is not forced to tap alternative sources of carbon dioxide. Without the credit, however, producers may opt to seek the credit rather than supply carbon dioxide to food and beverage makers, forcing them to rely on non-renewable sources.