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Legislative Update

Senate Finance Report

Please read this report from Senate Finance Democrats, "Trump's Tax Scam Hands Billions to Big Oil as Gas Prices for Working Families Soar". As you will see, the focus of the report is clearly on stock buybacks and deferred overseas income. That said, the appetite is there, and if Democrats recapture one or both chambers in Congress, expect attacks on the oil industry to be relentless. We know that NSWA members are in no way "Big Oil", but most Democrat members don't and/or won't care. Revenue is revenue, especially from the oil industry.