Tag: Senate Finance Committee

  • Energy Tax Facts
  • 2 Jun 21

Industry Coalition Letter Opposing the Clean Energy for America Act

Download the Letter Dear Chairman Wyden and Ranking Member Crapo, The undersigned trade associations represent all segments of the oil and natural gas sector ranging from family-owned businesses to the largest multi-national enterprises operating around the world. We write to voice our uniform opposition to proposed changes to the Internal Revenue Code (“the Code”) in […]

  • Energy Tax Facts
  • 27 Apr 21

IPAA: Testimony for Senate Committee on Finance hearing on “Climate Challenges: The Tax Code’s Role in Creating American Jobs, Achieving Energy Independence, and Providing Consumers with Affordable, Clean Energy.”

“…Oil and natural gas tax policies will continue to draw attacks from those anti-oil and natural gas factions that want to cripple American production. Much of the rhetoric surrounding these attacks will hide behind the red herring of “tax subsidies for Big Oil” when the reality is that the tax provisions are not “subsidies’ but […]

  • Energy Tax Facts
  • 21 Apr 21

Senate Finance Committee Bill Would Eliminate Expensing of IDCs, Percentage Depletion, EOR credits and more

Today, Senate Finance Committee Chair Ron Wyden, D-Ore., and 24 colleagues introduced the Clean Energy for America Act, legislation “to overhaul the federal energy tax code, create jobs and combat climate change.”According the Senators, “the current system of energy incentives is overly complex and far less effective than it should be, with more than 40 different energy tax incentives, including permanent subsidies for Big Oil… The Clean […]

  • Energy Tax Facts
  • 26 Sep 14

Senate Finance Committee Talks Energy Taxes

This month, the Senate Finance Committee held a hearing on the U.S. tax code as it pertains to American energy development, including the role and future of certain provisions that impact America’s independent oil and natural gas producers. Present at the hearing was the Honorable Don Nickles, who served in the U.S. Senate from 1981 […]

  • Energy Tax Facts
  • 22 Oct 13

Oil and Gas Supply Chain Group Supports the IDCs Deduction

This week the Energy Equipment and Infrastructure Alliance (EEIA) sent a letter to leaders of the House Ways & Means and Senate Finance Committees urging members to reject any proposal to eliminate the expensing of intangible drilling costs (IDCs) as part of any comprehensive tax reform.  Significantly, the EEIA does not represent oil and gas […]