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Armstrong Joins Bipartisan Effort to Spur Development of Carbon Capture Technologies Devils Lake Journal WASHINGTON – Congressman Kelly Armstrong (R-ND) joined Congressmen David McKinley (R-WV) and Marc Veasey (D-TX) in reintroducing the Accelerating Carbon Capture and Extending Secure Storage through 45Q (ACCESS 45Q) Act. This bipartisan legislation extends the date for projects to begin construction to claim the 45Q tax credit for carbon dioxide sequestration by ten years. It also tweaks the tax credit to make it more attractive to developers. The COVID-19 pandemic has hurt the U.S. ene...

ADVERTISEMENT Reps. David McKinley, R-W.V., and Marc Veasey, D-Texas, on Dec. 3 introduced the Accelerating Carbon Capture and Extending Secure Storage through 45Q (ACCESS 45Q) Act. The bill extends the date for projects to begin construction to claim the 45Q tax credit for carbon oxide sequestration by 10 years. It also provides a direct pay elective for the full value of the tax credit.   Information released by McKinley and Veasey indicates the COVID-19 pandemic has hurt the energy sector and slowed the development of carbon capture projects. By extending the eligible date for projects to...

On December 3, 2020, U.S. Representatives Marc Veasey (D-TX) and David B. McKinley (R-W.Va) introduced bi... On December 3, 2020, U.S. Representatives Marc Veasey (D-TX) and David B. McKinley (R-W.Va) introduced bipartisan legislation entitled the Accelerating Carbon Capture and Extending Secure Storage through 45Q Act (the “ ACCESS 45Q Act”) as H.R. 8858. The bill is designed to incentivize investment in carbon capture, utilization and storage (" CCUS"), and was co-sponsored by several other representatives, including Lizzie Fletcher (D-TX). Internal Revenue Code sect...