API applauds House passage of pro-growth tax reform

WASHINGTON, November 16, 2017 – API President and CEO Jack Gerard today issued the following statement applauding the House passage of pro-growth tax reform.

“Today the House voted to reform our outdated tax code and modernize it for the 21st century, bringing American consumers one step closer to economic policies that will create jobs and strengthen the economy,” said Gerard. “The oil and natural gas industry supports over 10 million U.S. jobs and invests billions into the U.S. economy each year. A modern tax code will help our industry accelerate these investments to fuel the economy and advance new technologies to help protect the environment and keep energy affordable for consumers, manufacturers, and businesses.

“By including pro-growth proposals like lowering the corporate tax rate and strong cost-recovery provisions, this legislation will help unleash economic growth and allow our industry to continue providing safe, reliable energy for Americans. We look forward to working with the Senate on updating the U.S. tax code and getting a bill to the president’s desk to ensure our nation continues its global energy leadership.”

To learn more about API’s support for pro-growth tax reform, visit energyandtaxes.com.

API is the only national trade association representing all facets of the oil and natural gas industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 40 million Americans.

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