H.R. 1946, known as the "45Q Repeal Act of 2025," aims to change the Internal Revenue Code by getting rid of the tax credit for carbon oxide sequestration. The bill repeals section 45Q and makes several related changes to other sections of the Code to remove references to this credit. The...
Simple Explanation
H.R. 1946, called the "45Q Repeal Act," is a bill that wants to stop giving money back to people who catch and store carbon in the ground, which is like trying to store away the “bad stuff” that comes out of cars. It might make it harder for places to keep the air clean by stopping those money rewards after 2025.