Sign-on Letter: Oppose Expanding the 45Q Tax Credit for Oil, Gas and Coal Companies
Oil Change International
Organizations from frontline communities – where Americans that are most impacted by climate change and the fossil fuel industry live – and organizations working in solidarity with them, are urging lawmakers to reject the Furthering carbon capture, Utilization, Technology, Underground storage, and Reduced Emissions (FUTURE) Act (S.1535) and the Carbon Capture Act (H.R.1379) – and to oppose its inclusion in a tax policy package.
This bill would change Section 45Q of the U.S. tax code to extend and expand subsidies for coal- and gas-fired power plants (and industrial facilities) to capture and sequester CO2 or sell CO2 to oil companies to recover hard-to-get oil from aging fields.
While some supporters of the bill have claimed it will help curb climate pollution, a letter delivered to members of the House and Senate signed by more than 40 groups demanded that attempts to address climate change must not be built on the backs of communities at the frontline of the fossil fuel industry and the unfolding climate crisis. It stated that policies that hand billions of taxpayer dollars to the fossil fuel industry, extending the life of coal power plants and incentivizing companies to pump more oil, are not climate solutions.
The groups are calling on lawmakers to instead finance a just recovery in communities impacted by climate-exacerbated disasters and support a just transition to a clean energy economy centered in frontline grassroots climate solutions and community and tribal resilience.