A new report from Friends of the Earth and Taxpayers for Common Sense sounds the alarm on a lame duck tax deal that could send billions in subsidies to Southern Company’s long-troubled Kemper coal plant in De Kalb, Mississippi.
As Congress returns to work following the election, big polluters are working to extend and expand a tax credit for carbon capture and sequestration – or CCS – facilities like Kemper as part of a year-end tax deal. The result could be a massive windfall for Southern Company when Kemper finally comes online.
The new report calculates the expected cost to taxpayers if Kemper is allowed to qualify for the new tax credit. The estimate ranges from $695 million over the next decade to $4.5 billion over the life of the plant. That’s too much money for another dirty coal plant when wind and solar are cheaper than ever.
What you can do
With the election over, pressure is building in Washington, D.C. to renew a variety of expiring tax breaks. A package like this represents the easiest way for new polluter subsidies to be snuck into a broader deal.
But it isn’t too late. If we act quickly, we can keep polluters and their friends in Congress from cashing in on more giveaways from taxpayers.
The climate crisis is here — and time has run out on false solutions like carbon capture and sequestration.
We need to demand investment in a just transition away from fossil fuels, towards proven solutions like wind and solar. Instead of pushing for new legislation to help keep corporate polluters afloat, we need to keep fossil fuels in the ground by pushing for real clean energy solutions