Tag: taxes

  • Energy Tax Facts
  • 4 Dec 13

Oil and Gas Journal (Column): Reform Targets Tax Measures Vital to Producers, Refiners

The chairman of the US Senate Committee on Finance proposes generally righteous tax reform that would specifically hurt oil and gas producers and refiners. The tax code needs work in important areas like simplicity, fairness, and international competition. But Sen. Max Baucus (D-Mont.) is considering measures that would discourage activity in a lively part of […]

  • Energy Tax Facts
  • 4 Dec 13

Oil and Gas Journal: Baucus Circulates Proposal To Change Federal Oil, Gas Taxes

US Senate Finance Committee Chairman Max Baucus (D-Mont.) released a federal tax reform discussion draft that would make intangible drilling costs, tertiary injectant expenses, and geological and geophysical expenses “qualified extraction expenses” similar to research and experiment outlays. It also would repeal the percentage depletion allowance, another federal tax provision that independent producers consider essential […]

  • Energy Tax Facts
  • 22 Nov 13

IPAA Responds to Chairman Baucus’ Proposal on American Energy Taxes

This week, Senate Finance Committee Chairman Baucus moved forward efforts to update America’s tax code. Unfortunately, the Chairman’s draft proposal includes repealing certain historical tax provisions that are critical to the continued development of American energy such as the Intangible Drilling Costs (IDCs) deduction. In response to Chairman Baucus’ proposal, Independent Petroleum Association of America […]

  • Energy Tax Facts
  • 21 Nov 13

Baucus launches limited attack on oil industry tax breaks

Senate Finance Committee Chairman Max Baucus (D-Mont.) unveiled plans to pare back oil industry tax breaks Thursday as part of a wider proposed overhaul of the corporate tax code. The plan does not attack as many industry tax breaks as some liberal Democrats and the White House have proposed. But it nonetheless drew a quick criticism from the oil […]

  • Energy Tax Facts
  • 13 Nov 13

Oil and Gas Journal (Op-Ed): Repealing the IDC Deduction Would Cost Thousands of Industry Jobs

As National budget discussions escalate, we can expect to receive more insight into Congress’s framework for business tax reform. An important aspect of this framework is a focus on eliminating tax breaks for specific industries. The American oil and natural gas industry commonly becomes a target in these discussions. However, rarely is any focus given to […]

  • Energy Tax Facts
  • 4 Nov 13

Poll: Voters Oppose Increasing Taxes on Energy Production

Matt Kellogg, IPAA’s Manager of Government Relations A new poll by Harris Interactive, conducted as a part of the American Petroleum Institute’s (API) “What America is Thinking on Energy Issues” series, finds a majority of American voters oppose changes to the tax code that would hinder energy production in the United States. According to the […]

  • Energy Tax Facts
  • 31 Oct 13

Oil & Gas Journal: Voters oppose new energy taxes, API plans to tell federal lawmakers

American Petroleum Institute lobbyists plan to remind members of the 113th Congress considering possible federal budget reforms in 2013’s final weeks that their constituents don’t support new energy taxes, said Stephen Comstock, API tax and accounting policy director. They specifically plan to cite findings of a recent Harris Interactive telephone survey API commissioned of 1,001 […]

  • Energy Tax Facts
  • 30 Oct 13

Houston Chronicle: Majority of Americans Oppose Taxes that Will Reduce Energy Production

Most registered voters believe raising taxes on oil companies would hike costs for consumers and oppose boosting energy taxes now, according to a poll unveiled Tuesday. Oil industry leaders and lobbyists say the new polling data, from a Harris Interactive survey commissioned by the American Petroleum Institute, helps them make the case that lawmakers should […]