Update on Depletion Allowance

General Mineral Rights Discussion
1

The House Ways and Means Committee released a draft bill for tax reform on Wednesday November 1st and they left percentage depletion exactly as it is today!!!!!

Next week the House will begin “mark-up” and we anticipate floor debate the week of November 13th.

The Senate Finance Committee is expected to deliver its draft next week or the week after.

If you made calls to Ways and Means Committee members, as we asked, PLEASE call those offices back and say something like . . .
“I called your office to encourage the Congressman/woman to preserve percentage depletion for oil and gas royalty owners. I wanted to say THANK YOU for leaving this very important deduction as it is and has been since the 1920’s."

Keep watching as you may need to call Senate Finance Committee members in the next couple of weeks as they move their bill and they get into mark-up.

STAY TUNED.



YOU CAN SAVE PERCENTAGE DEPLETION!!

Ways and Means Committee Members for a Thank You follow up call are:

Kevin Brady (TX-8) 202-225-4901

Sam Johnson (TX-3) 202-225-4201

Pat Tiberi (OH-12) 202-225-5355

Peter Roskam (IL-6) 202-225-4561

Lynn Jenkins (KA-2) 202-225-6601

Kenny Merchant (TX-24) 202-225-6605

Diane Black (TN-6) 202-225-4231

Tom Reed (NY-23) 202-225-3161

Mike Kelly (PA-3) 202-225-5406

Jim Renacci (OH-16) 202-225-3876

Pat Meehan (PA-7) 202-225-2011

Kristi Noem (SD-at large) 202-225-2801

Jason Smith (MO-8) 202-225-4404

Mike Bishop (MI-8) 202-225-4872

A full list of committee members is located here:

https://waysandmeans.house.gov/subcommittee/full-committee/