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IPAA - Independent Petroleum Association of America

05/22/2025 | Press release | Distributed by Public on 05/22/2025 07:51

IPAA: “One Big, Beautiful Bill is a Win for American Energy”

May 22, 2025IPAA: "One Big, Beautiful Bill is a Win for American Energy"

Posted at 09:30hin Letters and Comments, Press Releases, Taxes by Jennifer Pett

WASHINGTON - Independent Petroleum Association of America (IPAA) President & CEO Jeff Eshelman issued the following passage of the budget reconciliation bill in the U.S. House of Representatives:

"President Trump's 'One Big, Beautiful Bill' is a win for American energy. Multiple House committees included language in the bill passed today that improves the ability of independent oil and natural gas producers to supply reliable, affordable energy to the American people.

"IPAA is pleased that the legislation reinstates oil and natural gas lease sales for onshore and offshore federal lands and makes common sense reforms to the permitting and leasing process on federal lands. IPAA members, the small businesses of the oil patch, are grateful that industry tax treatments including intangible drilling costs and percentage depletion were protected, along with carried interest deductions being preserved.

"We are disappointed that the legislation does not include a full repeal of the Methane Emissions Reduction Program (MERP) including the methane tax. Included within the bill is a 10-year delay of the MERP, but IPAA has consistently urged, and will continue to argue, for a full repeal of the statute.

"IPAA and our members congratulate House leadership on H.Con.Res.14 and stand ready to help ensure this legislation is approved by Senate and sent to President Trump for his signature as soon as possible."