MLPA Commends Senate Leadership
On December 2, 2017, the United States Senate, by passing the “Tax Cuts and Jobs Act,” took a significant step forward in their efforts to grow the American economy. We applaud Senate Majority Leader Mitch McConnell, Finance Committee Chairman Orrin Hatch, Senate Majority Whip John Cornyn, and Members of the Senate Finance Committee for all of their incredibly hard work to move this vitally important legislation through the Senate.
We are pleased that the Senate understood the important role MLPs play in, among other things, building the critical energy infrastructure that promotes our nation’s energy security and reduces energy costs for consumers. For three decades, it has been the policy of this nation to allow qualifying businesses to organize as flow-through tax entities to raise low cost capital from a broad base of investors by utilizing public equity markets.
As a country, we have an energy infrastructure system that is reliable, durable and dynamic. Investment in this system quickly responds to new sources of supply and demand, which facilitates lower costs of delivered energy to homes and businesses. This policy has been preserved in this legislation as in the House passed “Tax Cuts and Jobs Act”.
MLPA looks forward to working with Congress as they move toward a final tax reform bill.