fbpx
Monday, March 20th, 2023 at 10:16 PM
Lootpress
  • News
    • All
    • Business
    • Consumer
    • Crime
    • Featured
    • Health
    • Lifestyle
    • Local
    • National
    • North Carolina News
    • Politics
    • State
    • Top Stories
    • Virginia News
    • Weather News

    This West Virginia restaurant will take you back in time

    Fairmont State University narrows presidential search to 12

    Photo: East River VFD

    East River VFD safely guides traffic after utility lines obstruct busy highway, box truck destroys pole

    Woman threatened McDonald’s employees with gun over missing menu item

    Idaho pass bill to allow firing-squad executions in some cases

    In this undated photo provided by Aurora Police Department is James Craig. Investigators say the Colorado dentist intent on killing his wife put poison in her protein shakes before finally succeeding with a rush order dose of potassium cyanide powder he said he needed to perform surgery. Craig was arrested on Sunday, March 19, 2023, on a first-degree murder charge. (Aurora Police Department via AP)

    Police: Dentist killed wife by lacing shakes with poison

    State Treasury Firearms Auction Raises New Record Total For State Law Enforcement Agencie

    Huntington Man Sentenced to Prison for Fentanyl Crime

    Report of a student with gun at Elementary School turns out to be BB gun

    Trending Tags

    • Raleigh County
    • Fayette County
    • Mercer County
    • Breaking
    • Crime
    • Local
    • National

      Woman threatened McDonald’s employees with gun over missing menu item

      Idaho pass bill to allow firing-squad executions in some cases

      Beckley’s own Kamron Lawson wows American Idol judges, passes audition

      Dollar Tree can’t afford to sell eggs anymore

      Beckley singer’s American Idol audition to air Sunday

      50 most popular food and snack brands

      Louisiana works out deal for family to keep pet nutria

      Florida may ban girls’ period talk in elementary grades

      Sheetz Cuts Gas Prices for One Week

    • Politics

      Biden issues first veto, defending Labor Dept. ‘ESG’ rule

      Sen. Mike Stuart eyes statewide run

      Some Trump rivals rally to his side as possible charges loom

      FILE PHOTO: U.S. Senator Shelley Moore Capito (R-WV) listens during a Senate Environment and Public Works Committee hearing on Michael Regan's nomination to be Administrator of the Environmental Protection Agency (EPA) on Capitol Hill in Washington, U.S., February 3, 2021. REUTERS/Brandon Bell/Pool/File Photo

      Members of West Virginia Delegation Stand Up for Domestic Hardwood Plywood Producers

      Former President Donald Trump claims he will be arrested on Tuesday

      Key Democratic groups won’t commit to supporting Manchin re-election following party criticism

      FILE - In this Feb. 20, 1978, file photo, President Jimmy Carter listens to Sen. Joseph R. Biden, D-Del., as they wait to speak at fund raising reception at Padua Academy in Wilmington, Del. President Joe Biden says he plans to deliver the eulogy at the funeral of former President Jimmy Carter, who remains under hospice care at his home in south Georgia. (AP Photo/Barry Thumma, File)

      Biden says Jimmy Carter has asked him to deliver his eulogy

      Biden expected to sign new executive order on gun control

      WV law makes obstructing police, ‘causing death’ a felony

    • State

      This West Virginia restaurant will take you back in time

      Fairmont State University narrows presidential search to 12

      State Treasury Firearms Auction Raises New Record Total For State Law Enforcement Agencie

      Human remains identified as those of a man who has been missing for over a year

      Gov. Justice appoints interim superintendent of WV State Police amid probe

      US Marshalls arrest drive-by shooter after 19-year-old killed, 15-year-old shot in head

      Stephen New of New, Taylor & Associates detailing the condition of Alvis Shrewsbury prior to his death at SRJ

      ‘No one should be forced to live in these conditions,’ – New details shed light on corruption at Southern Regional Jail

      Biden issues first veto, defending Labor Dept. ‘ESG’ rule

      Gov. Justice accepts resignation of Jan Cahill, will hold press briefing TODAY at 1 p.m.

    • Virginia News
    • Weather News
  • County News
    • Barbour County
    • Barbour County
    • Berkeley County
    • Boone County
    • Braxton County
    • Buchanan County
    • Cabell County
    • Clay County
    • Greenbrier County
    • Fayette County
    • Jackson County
    • Kanawha County
    • Lewis County
    • Logan County
    • Mason County
    • McDowell County
    • Mercer County
    • Mingo County
    • Monroe County
    • Nicholas County
    • Putnam County
    • Raleigh County
    • Randolph County
    • Randolph County
    • Summers County
    • Wyoming County
  • Sports
    • 2021 Prep Football Tab
    • 2021 Prep Football Playoffs
    • Local Sports
    • College Sports
    • Boys Basketball
    • Girls Basketball
    • Prep Baseball
    • Prep Softball
    • Prep Football
    • Prep Soccer
    • Prep Track and Field
    • Prep Volleyball
    • Golf
    • WVU Tech
  • Lifestyle
    • Birth Announcements
    • Pet of the Week
    • Visit Southern WV Tourism
  • Obituaries
  • Editorials
  • About Us
    • Meet the Team
    • Write For Us
    • Contact Us
  • Email Alerts
  • Community Calendar
No Result
View All Result
  • News
    • All
    • Business
    • Consumer
    • Crime
    • Featured
    • Health
    • Lifestyle
    • Local
    • National
    • North Carolina News
    • Politics
    • State
    • Top Stories
    • Virginia News
    • Weather News

    This West Virginia restaurant will take you back in time

    Fairmont State University narrows presidential search to 12

    Photo: East River VFD

    East River VFD safely guides traffic after utility lines obstruct busy highway, box truck destroys pole

    Woman threatened McDonald’s employees with gun over missing menu item

    Idaho pass bill to allow firing-squad executions in some cases

    In this undated photo provided by Aurora Police Department is James Craig. Investigators say the Colorado dentist intent on killing his wife put poison in her protein shakes before finally succeeding with a rush order dose of potassium cyanide powder he said he needed to perform surgery. Craig was arrested on Sunday, March 19, 2023, on a first-degree murder charge. (Aurora Police Department via AP)

    Police: Dentist killed wife by lacing shakes with poison

    State Treasury Firearms Auction Raises New Record Total For State Law Enforcement Agencie

    Huntington Man Sentenced to Prison for Fentanyl Crime

    Report of a student with gun at Elementary School turns out to be BB gun

    Trending Tags

    • Raleigh County
    • Fayette County
    • Mercer County
    • Breaking
    • Crime
    • Local
    • National

      Woman threatened McDonald’s employees with gun over missing menu item

      Idaho pass bill to allow firing-squad executions in some cases

      Beckley’s own Kamron Lawson wows American Idol judges, passes audition

      Dollar Tree can’t afford to sell eggs anymore

      Beckley singer’s American Idol audition to air Sunday

      50 most popular food and snack brands

      Louisiana works out deal for family to keep pet nutria

      Florida may ban girls’ period talk in elementary grades

      Sheetz Cuts Gas Prices for One Week

    • Politics

      Biden issues first veto, defending Labor Dept. ‘ESG’ rule

      Sen. Mike Stuart eyes statewide run

      Some Trump rivals rally to his side as possible charges loom

      FILE PHOTO: U.S. Senator Shelley Moore Capito (R-WV) listens during a Senate Environment and Public Works Committee hearing on Michael Regan's nomination to be Administrator of the Environmental Protection Agency (EPA) on Capitol Hill in Washington, U.S., February 3, 2021. REUTERS/Brandon Bell/Pool/File Photo

      Members of West Virginia Delegation Stand Up for Domestic Hardwood Plywood Producers

      Former President Donald Trump claims he will be arrested on Tuesday

      Key Democratic groups won’t commit to supporting Manchin re-election following party criticism

      FILE - In this Feb. 20, 1978, file photo, President Jimmy Carter listens to Sen. Joseph R. Biden, D-Del., as they wait to speak at fund raising reception at Padua Academy in Wilmington, Del. President Joe Biden says he plans to deliver the eulogy at the funeral of former President Jimmy Carter, who remains under hospice care at his home in south Georgia. (AP Photo/Barry Thumma, File)

      Biden says Jimmy Carter has asked him to deliver his eulogy

      Biden expected to sign new executive order on gun control

      WV law makes obstructing police, ‘causing death’ a felony

    • State

      This West Virginia restaurant will take you back in time

      Fairmont State University narrows presidential search to 12

      State Treasury Firearms Auction Raises New Record Total For State Law Enforcement Agencie

      Human remains identified as those of a man who has been missing for over a year

      Gov. Justice appoints interim superintendent of WV State Police amid probe

      US Marshalls arrest drive-by shooter after 19-year-old killed, 15-year-old shot in head

      Stephen New of New, Taylor & Associates detailing the condition of Alvis Shrewsbury prior to his death at SRJ

      ‘No one should be forced to live in these conditions,’ – New details shed light on corruption at Southern Regional Jail

      Biden issues first veto, defending Labor Dept. ‘ESG’ rule

      Gov. Justice accepts resignation of Jan Cahill, will hold press briefing TODAY at 1 p.m.

    • Virginia News
    • Weather News
  • County News
    • Barbour County
    • Barbour County
    • Berkeley County
    • Boone County
    • Braxton County
    • Buchanan County
    • Cabell County
    • Clay County
    • Greenbrier County
    • Fayette County
    • Jackson County
    • Kanawha County
    • Lewis County
    • Logan County
    • Mason County
    • McDowell County
    • Mercer County
    • Mingo County
    • Monroe County
    • Nicholas County
    • Putnam County
    • Raleigh County
    • Randolph County
    • Randolph County
    • Summers County
    • Wyoming County
  • Sports
    • 2021 Prep Football Tab
    • 2021 Prep Football Playoffs
    • Local Sports
    • College Sports
    • Boys Basketball
    • Girls Basketball
    • Prep Baseball
    • Prep Softball
    • Prep Football
    • Prep Soccer
    • Prep Track and Field
    • Prep Volleyball
    • Golf
    • WVU Tech
  • Lifestyle
    • Birth Announcements
    • Pet of the Week
    • Visit Southern WV Tourism
  • Obituaries
  • Editorials
  • About Us
    • Meet the Team
    • Write For Us
    • Contact Us
  • Email Alerts
  • Community Calendar
No Result
View All Result
Lootpress
No Result
View All Result

Capito, Manchi introduce 45Q Legislation

Gailyn Markham by Gailyn Markham
Tuesday, March 2, 2021 9:45 am

WASHINGTON, D.C. (LOOTPRESS) – U.S. Senators Shelley Moore Capito (R-W.Va.),Sheldon Whitehouse (D-R.I.), John Barrasso (R-Wyo.), Kevin Cramer (R-N.D.), John Hoeven (R-N.D.), Tina Smith (D-Minn.), and Joe Manchin (D-W.Va.) yesterday introduced the 45Q Carbon Capture Utilization and Storage (CCUS) Tax Credit Amendments Act of 2020—legislation that makes targeted statutory changes to maximize the utility of the credit enacted as part of the Bipartisan Budget Act of 2018. These narrow, discrete improvements will ensure that the credit is utilized to its full potential to create manufacturing, construction, and engineering jobs; preserve coal and natural gas jobs; and prevent carbon dioxide emissions while even facilitating the reduction of carbon dioxide that is already in the atmosphere.

“In the time since our bipartisan group of Senators came together to create the FUTURE Act—one of the most significant climate policies in U.S. history and certainly that with the most job creation and preservation potential—the economic situation in our country has completely changed,”said Senator Capito. “Since that time, we have not rested on our laurels. Instead, we have continued to engage with our industry, environmental, and labor stakeholders to ensure that the regulatory guidance implemented congressional intent and to look at next steps on how to maximize the return on these taxpayer investments, especially as we recover economically from COVID-19. The 45Q CCUS Amendments Actreflects the targeted, consensus-based changes called for by our stakeholders. These small modifications, following the models of previous energy policies that are supported by members of both parties for now well-established industries, will make a big difference in putting American innovation to work growing our economy and combatting climate change in a responsible way, regardless of the current economic circumstances.”

“Our bipartisan FUTURE Act was a win for our climate and the promising new carbon capture technologies looking to gain a foothold in the market,”said Senator Whitehouse. “This bill extends the credit for carbon capture, boosting technologies that remove carbon directly from the atmosphere and cutting carbon pollution at industrial facilities. I am pleased to continue this important bipartisan work with Senators Capito and Barrasso.”

“Carbon capture technologies hold the key to reducing carbon emissions and creating new jobs in Wyoming,” said Senator Barrasso. “The 45Q tax credit will spur advancements in the coal industry, advance our environmental goals, and lead to the development of new commercial uses for carbon emissions. Extending this credit will provide much needed relief and certainty for carbon capture projects who have been impacted by the COVID-19 pandemic. It will also help make sure America remains the global leader on this important energy technology.”

“North Dakota is leading the way in the development of clean, reliable energy by investing and applying carbon capture and use technologies to our lignite, oil, and ethanol facilities. Our bill will allow our innovators to get the most out of the tax credits we created, incentivizing further investments and ultimately lowering emissions,” said Senator Cramer. “I appreciate Senator Capito and Senator Whitehouse’s continued leadership on this issue and urge my colleagues to support our bipartisan legislation.”

“This legislation would make the 45Q and 48A tax credits more accessible and benefit our coal producers, helping them to better take advantage of these critical revenue streams through the implementation of CCUS technology,” said Senator Hoeven. “These tax credits are a central part of our efforts to ensure our nation can reduce emissions while continuing to harness its abundant coal resources, which provide the affordable and reliable power that homes and businesses rely on every day.”

“We need to be doing everything we can to reduce greenhouse gases in the atmosphere,” said Senator Smith. “Our bipartisan legislation, when coupled with extensions of other clean energy tax credits, will provide a win-win: good for our environment and good for our economy.”

“The 45Q tax credit is an integral part of commercializing the carbon capture, utilization, and sequestration technologies that will play a critical role in reducing emissions. Two years after the enactment of the FUTURE Act, the IRS has yet to issue final guidance necessary for these projects to secure financing and break ground. In light of the delays, this bill will ensure those projects have sufficient time to take advantage of the 45Q tax credit. Doing so will help us address the global climate challenge, create jobs, and maintain our nation’s role in leading the way in energy innovation,” Senator Manchin said.

Specifically, the legislation:

1.     Extends the tax credit’s “start construction date” by five years. Doing this will make up for the more than two years of credit eligibility lost due to the delays in the Internal Revenue Service (IRS) finalizing the regulator guidance and aligns the 45Q credit with the expiries of other energy credits.

2.     Allows the 45Q credit to offset tax obligations due to the Base Erosion Avoidance Tax (BEAT). BEAT is a form of alternative minimum tax for companies. Making 45Q eligible to offset BEAT liabilities will reduce obstacles to utilization of the credit.

3.     Allows for the direct payment of the credit. This is essential to ensure the maximum effect of the credit in the wake of the recent economic downturn resulting from COVID-19.

To view a one-pager on the legislation, click here.

To view bill text, click here.

ShareTweetSend
Gailyn Markham

Gailyn Markham

Gailyn Markham is a multimedia journalist for Lootpress. She joined the Lootpress staff in November of 2020. Gailyn graduated from Concord University in May of 2019 with a BA in English Journalism and a minor in Sociology. During her time there, she was a staff writer for the school’s newspaper, “The Concordian,” and received the 2019 Outstanding Journalist Award for her work. Before joining the Lootpress team, Gailyn interned for The Register-Herald and, upon completing her internship, was asked to continue working as a freelance writer. She freelanced for the newspaper for two years. A West Virginia native, Gailyn has always been devoted to telling the stories of the Mountain State. When she isn’t working, she enjoys taking advantage of West Virginia’s many outdoor adventures, reading, and renovating her home with her husband, Chris. For news tips or story ideas, email Gailyn at gailynmarkham@lootpress.com. You can also follow her on Facebook.

Don't Miss

Featured

This West Virginia restaurant will take you back in time

1 min ago
Featured

Fairmont State University narrows presidential search to 12

3 mins ago
Photo: East River VFD
Featured

East River VFD safely guides traffic after utility lines obstruct busy highway, box truck destroys pole

4 mins ago

Sign up for our weekly email recap of the week's top stories and be entered to win a $25 Visa gift card weekly.

Select list(s) to subscribe to


Thank you for choosing Lootpress as your news source.

Top Stories

  • All
  • News

Choose the Community Choice Boys Player of the Year!

March 17, 2023

Beckley’s own Kamron Lawson wows American Idol judges, passes audition

March 19, 2023

Human remains identified as those of a man who has been missing for over a year

March 20, 2023

Beckley singer’s American Idol audition to air Sunday

March 19, 2023
A kitchen supervisor at Southern Regional Jail is arrested and charged after bringing drugs into the facility.

Kitchen supervisor at Southern Regional Jail arrested after bringing drugs into facility

March 19, 2023
Load More

Community Calendar

Recent News

This West Virginia restaurant will take you back in time

March 20, 2023

Fairmont State University narrows presidential search to 12

March 20, 2023
Photo: East River VFD

East River VFD safely guides traffic after utility lines obstruct busy highway, box truck destroys pole

March 20, 2023

Lootpress brings you the latest news in Southern West Virginia and around.

Follow Us

Facebook Twitter Youtube

Recent News

This West Virginia restaurant will take you back in time

March 20, 2023

Fairmont State University narrows presidential search to 12

March 20, 2023
  • About
  • Privacy & Policy
  • Terms and Conditions

© 2023 Lootpress - Your News, Now! Lootpress.

No Result
View All Result
  • News
    • Breaking
    • Crime
    • Local
    • National
    • Politics
    • State
    • Virginia News
    • Weather News
  • County News
    • Barbour County
    • Barbour County
    • Berkeley County
    • Boone County
    • Braxton County
    • Buchanan County
    • Cabell County
    • Clay County
    • Greenbrier County
    • Fayette County
    • Jackson County
    • Kanawha County
    • Lewis County
    • Logan County
    • Mason County
    • McDowell County
    • Mercer County
    • Mingo County
    • Monroe County
    • Nicholas County
    • Putnam County
    • Raleigh County
    • Randolph County
    • Randolph County
    • Summers County
    • Wyoming County
  • Sports
    • 2021 Prep Football Tab
    • 2021 Prep Football Playoffs
    • Local Sports
    • College Sports
    • Boys Basketball
    • Girls Basketball
    • Prep Baseball
    • Prep Softball
    • Prep Football
    • Prep Soccer
    • Prep Track and Field
    • Prep Volleyball
    • Golf
    • WVU Tech
  • Lifestyle
    • Birth Announcements
    • Pet of the Week
    • Visit Southern WV Tourism
  • Obituaries
  • Editorials
  • About Us
    • Meet the Team
    • Write For Us
    • Contact Us
  • Email Alerts
  • Community Calendar

© 2023 Lootpress - Your News, Now! Lootpress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist