45Q Repeal Act of 2025

Bill 119 HR 1946, also known as the Carbon Oxide Sequestration Credit Repeal Act, aims to make changes to the Internal Revenue Code of 1986 by repealing the carbon oxide sequestration credit. This credit was originally put in place to incentivize businesses to capture and store carbon dioxide emissions in an effort to reduce greenhouse gas emissions and combat climate change.

The bill, if passed, would eliminate this tax credit, which has been criticized by some as being ineffective in achieving its intended goals. Supporters of the bill argue that the credit is costly and has not led to significant reductions in carbon dioxide emissions.

The repeal of this credit would have implications for businesses that have been taking advantage of it to offset the costs of carbon capture and storage projects. It could also impact the overall efforts to reduce greenhouse gas emissions in the United States. The bill is currently being debated in Congress, with both supporters and opponents voicing their opinions on the potential impacts of repealing the carbon oxide sequestration credit. It remains to be seen how this legislation will progress and what its ultimate effects will be on the environment and the economy.