MLPA Statement on House Passage of the “Tax Cuts and Jobs Act”

News Article | November 17, 2017
  • On Thursday, November 16, 2017, the United States House of Representatives took a giant step forward in their efforts to grow our economy by fixing our broken tax code.  We applaud Chairman Kevin Brady and the Ways and Means Committee for their monumental efforts to move this vitally important legislation through the House.

    We are particularly pleased that the House understood the important role MLPs play in advancing our nation’s domestic energy security.  For three decades, it has been the policy of this nation to allow qualifying businesses to organize as flow-through tax entities in order to raise capital from a broad base of investors by utilizing public equity markets.  This structure has proven to be a resilient, effective and efficient way for MLPs to, among other things, build critical infrastructure for domestic energy sources, particularly natural gas, natural gas liquids (NGLs), crude oil, refined products and renewable fuels including ethanol and biodiesel.  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.

    The House, by voting on this legislation, took a critical step in growing our economy while maintaining these critical investments in our nation’s energy infrastructure.

    We look forward to continuing to work with Congress and the Administration as the process moves forward.

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