Jul 11, 2011 IPAA Letter to Congressional Leadership Requesting the Rejection of Targeted Tax Increases to Address Reducing the Federal Deficit
Much has been said about the elements of a compromise to address the forthcoming expiration of the statutory debt ceiling and the challenges of reducing the federal deficit. Among the issues that have been raised are targeted tax increases on specific industries. President Obama targeted the oil and natural gas exploration and production industry in many of his recent statements. As the most active advocate for America’s independent producers, the Independent Petroleum Association of America (IPAA) requests that these proposals to target a specific industry for tax increases be rejected.