For Immediate Release: Rep. Wesley Hunt Testifies in Support of the 45Q Tax Credit

Washington, D.C. - Today, Congressman Wesley Hunt testified before the House Ways and Means Committee. During his testimony, Rep. Hunt advocated for the retention of the 45Q tax credit amid GOP conversations about repealing Biden-affiliated energy tax credits during reconciliation this Congress.

45Q is a provision in the US tax code that provides a tax credit for implementing Carbon Capture, Utilization, and Sequestration (CCUS) and has been instrumental in drastically reducing carbon emissions in the United States. In addition, 45Q has led to the innovation of Enhanced Oil Recovery (EOR), which has increased America’s ability to produce oil and gas at the most efficient rate in a century.

"The 45Q Tax Credit has enabled one of the most significant carbon reduction efforts in American history. It empowers Texas’ oil and gas industry to innovate for a sustainable future while revitalizing American energy leadership,"said Hunt. "As Republicans begin to negotiate the extension of President Trump's Tax Cuts and Jobs Act, I implore our conference to retain the 45Q tax credit."

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