Nov 16, 2017 IPAA Praises House Passage of Major Tax Reform Legislation
WASHINGTON, D.C. – Independent Petroleum Association of America (IPAA) President and CEO Barry Russell issued the following statement after the U.S. House of Representatives today passed pro-growth, pro-jobs tax reform legislation:
“Today’s action by the House is a significant step towards modernizing the U.S. tax code, which will help grow our economy, spur investment, and create good-paying jobs. Meaningful reforms, like lowering the corporate tax rate and strong cost-recovery provisions, will be an important shot in the arm for the U.S. economy and will help independent oil and natural gas producers of all sizes succeed. This legislation ensures that the U.S. tax code is modernized, pro-growth, and benefits American consumers, businesses, and the economy. We support this extraordinary effort to reform America’s tax code, which will allow U.S. workers and businesses keep more of their hard-earned paychecks and ensure more opportunities for these hardworking men and women to achieve the American Dream.”
For more information about taxes and the energy industry, visit our website EnergyTaxFacts.com.
About the Independent Petroleum Association of America
The Independent Petroleum Association of America (IPAA) is a national upstream trade association representing thousands of independent oil and natural gas producers and service companies across the United States. Independent producers develop 90 percent of the nation’s oil and natural gas wells. These companies account for 54 percent of America’s oil production, 85 percent of its natural gas production, and support over 2.1 million American jobs. Learn more about IPAA by visiting www.ipaa.org and following @IPAAaccess on Twitter.