CONGRESS FOR VOTERS

RepublicanBill · H.R. 1003· House(119-HR-1003)

Enhancing Energy Recovery Act

Rep. Hern
Age: 65 years
Oklahoma
Introduced
2/5/2025
Last activity
2/5/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Kevin Hern
Cosponsors
Republican - 3Democrat - 0
Taxation
  1. Introduced
  2. In Committee

What this bill would do

The "Enhancing Energy Recovery Act" aims to amend the Internal Revenue Code of 1986 regarding the carbon oxide sequestration credit. It seeks to modify the credit to ensure parity for different uses and utilizations of qualified carbon oxide. The bill updates how the credit is applied to carbon oxide used as a tertiary injectant in enhanced oil or natural gas recovery projects or utilized in other specific manners. It also adjusts the applicable dollar amounts for certain taxable years. These changes are intended to apply to taxable years beginning after December 31, 2024.

Yes· 3 of 8

  • Would business owners be better off under this?+4

    The bill increases the value and parity of tax credits for businesses engaged in carbon capture and sequestration.

  • Does this cut taxes for small businesses?+3

    The bill expands tax credit eligibility for various uses of carbon oxide, which can benefit energy-related businesses.

  • Does this cut the pollution that drives climate change?+3

    The bill modifies the carbon oxide sequestration credit to encourage different methods of carbon utilization and storage.

The opposite

  • Does this reduce how much oil, gas and coal is produced?-2

    The bill specifically incentivizes the use of carbon oxide in enhanced oil and natural gas recovery projects.