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Iowa Lawmakers Push for Repeal of Carbon Pipeline Tax Credit
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Iowa Lawmakers Push for Repeal of Carbon Pipeline Tax Credit
More than 40 Iowa Republican lawmakers are urging Senator Joni Ernst to help repeal a federal tax credit for carbon sequestration projects as part of the budget reconciliation bill now before the Senate. The 45Q tax credit offers $85 per metric ton of captured CO2, with pipeline developers like Summit Carbon Solutions standing to gain an estimated $1.5 billion annually. Supporters of the credit, including Summit and some biofuels groups, say the…
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