NSWA representatives from Oklahoma, Kansas, Texas, and California just completed a whirlwind two-day tour of the Capitol defending percentage depletion in Washington D.C. September 24-25. The group met with Republican and Democrat lawmakers and staff in both chambers of Congress, visiting old friends and developing relationships with staff and lawmakers new to percentage depletion and our industry. Everywhere the message was the same: percentage depletion remains “on the chopping block,” and advocacy from groups like NSWA is the only thing keeping the axe at bay.
Percentage depletion remains an attractive offset for new legislation, including new renewable and green energy tax incentives; it is actively being considered as an offset for the package of green tax incentives from the House Ways and Means Committee this fall. In its meetings, NSWA emphasized that percentage depletion is not a “subsidy for big oil,” as that frustratingly remains the predominant perception in Washington. NSWA argued that percentage depletion is a long-established tax provision vital to family-owned small businesses across the country. Without it, these small businesses and the employees and contractors they employ will have to close their doors.
NSWA staff will build off those meetings and continue to develop those relationships. Only constant and active advocacy from NSWA will protect percentage depletion.
Participants included Darlene Wallace, Columbus Oil Company, Ed Cross, Kansas Independent Oil & Gas Association, Ken Hunter, III, Vaquero Energy, Inc., and Karr Ingham, Texas Alliance of Energy Producers. They met with the Joint Committee on Taxation, Office of Senator Cornyn (R-TX), Senate Committee on Finance, Subcommittee on Select Revenue Measures, House Committee on Ways and Means, Office of Representative Thompson (D-CA-5), Representative Brady (R-TX-8), Office of Representative Chu (D-CA-27), Office of Senator Durbin (D-IL), Office of Senator Jon Tester (D-MT), and Office of Representative McCarthy (R-CA-23).
If you have any questions or would like to discuss the fly-in or any policy issue, please contact NSWA Vice President of Governmental Affairs, Aindriu Colgan, at (970) 367-6642.