Sending Office: Honorable Mark E. Amodei
Please join us in sending a letter to the House Ways and Means Committee urging them to retain the present-law percentage depletion tax deduction as they consider tax reform.
The percentage depletion deduction contributes significantly to the role U.S. coal, mineral, natural stone, aggregates and independent oil and gas producers play in fostering continued American economic prosperity and energy security.
Natural resources producers are allowed to claim as a deduction for depletion a percentage of the gross income from these properties. This percentage deduction rate varies depending on the type of product produced. It is an essential component of the natural
resources industry and must be retained in order for these industries to remain competitive in the global marketplace.
Even with the percentage depletion tax deduction, the U.S. tax burden on mining and other American resources operations puts them at a significant competitive disadvantage against foreign competitors.
We rely on these sectors to get us closer to energy independence; provide the raw material to build our roads and bridges; and be the raw material building block in the manufacturing of all goods.
Eliminating this deduction, even with a corporate rate reduction, would act as a tax increase on this sector that is already struggling.
The letter encourages the Ways and Means Committee to retain the deduction and allow our natural resources sector to continue to be competitive in the global market.
To sign on please contact Lauren Currie in Congressman Amodei’s office at 202-225-6155 or at Lauren.Currie@mail.house.gov by September 20th.
Mark E. Amodei
Member of Congress
e-Dear Colleague version 2.0