Sen. Tina Smith, D-Minn., recently led a bipartisan effort with Sen. John Hoeven, R-N.D., to reduce greenhouse gas emissions from fossil fuel producers by creating additional incentives for utilities to install carbon capture and storage technology.
The Carbon Capture Modernization Act updates the tax credit system for coal producers and incentivizes the usage of modern technology to return harmful greenhouse gas emissions in the ground, rather than releasing them into the atmosphere. Smith introduced similar legislation last year with former Sen. Heidi Heitkamp of North Dakota.
"Climate change will continue to threaten our economy and our future if we don't find ways to decrease our nation's carbon footprint," Smith stated in a news release. "While we continue to transition to clean and affordable forms of energy, this legislation helps ensure that carbon dioxide released by fossil fuel power plants is captured and stored before it can be emitted into the atmosphere. This bill supports the good work that Minnesota Power, Minnesota's rural electric co-ops, and other utilities in our state are doing to reduce greenhouse gas emissions."
In addition to Hoeven and Smith, the Carbon Capture Modernization Act is cosponsored by Sens. Kevin Cramer, R-N.D., Joe Manchin D-W.Va., John Barrasso R-Wyo., Jon Tester D-Mont., Lindsey Graham R-S.C. and Steve Daines R-Mont.