Multi-Association Letter to Congressional Committee Leaders on Percentage Depletion and Tax Reform Efforts

Multi-Association Letter to Congressional Committee Leaders on Percentage Depletion and Tax Reform Efforts

Dear Chairman Camp, Ranking Member Levin, Chairman Baucus and Ranking Member Hatch: As Congress gathers to address issues for the remainder of this session, of the many items that may be offered are tax increases on American oil and natural gas production. Action that would target a single industry that is so critical to America’s economy should not be carelessly wedged into a last minute legislative package. While there are a number of oil and natural gas tax provisions targeted by the Obama Administration, this letter addresses a specific provision that affects small businesses and royalty owners only – repeal of percentage depletion

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