WASHINGTON, D.C. — Green Scissors, a coalition of free market, taxpayer, and environmental groups, sent a letter to the Senate today opposing an extension and expansion of the tax credits for carbon capture and sequestration. The letter cited both fiscal and environmental concerns in opposing Senator Heitkamp’s amendment on the 45Q tax credit as part of a proposed Federal Aviation Administration reauthorization.
Although the measure faces an uncertain future as part of the FAA bill, Senator Heitkamp’s amendment is part of a concerted effort by industry and some environmentalists to expand the 45Q tax credit. The effort is mirrored in the House by Rep. Conaway’s HR4622.
“Private investment in clean coal is the only way to ensure that these technologies will find a place in the future energy market,” said Catrina Rorke, director of energy policy at the R Street Institute. “We talk a lot about not using tax policy to pick energy winners. The same should apply here.”
“Taxpayers cannot afford to keep throwing good money after bad on clean coal. Subsidies for this failed technology have wasted billions of dollars over the last few decades,” said Autumn Hanna, senior program director at Taxpayers for Common Sense. “Whether it’s on the FAA bill, some end of year omnibus package or another bill, lawmakers should reject this proven money loser.”
“We are calling this plan what it is,” said Lukas Ross, a climate and energy campaigner at Friends of the Earth, “A subsidy for Big Oil masquerading as a climate solution.”