Southern West Virginia News

Washington, D.C. – Yesterday, Congresswoman Carol Miller (R-WV), Chairwoman of the Supply Chains Tax Team, hosted a roundtable in southern Ohio with members and stakeholders of the American Exploration and Production Council (AXPC). The tax team also toured an Ascent Resources oil and natural gas rig. Representatives Michelle Fischbach (R-MN) and Randy Feenstra (R-IA) joined Congresswoman Miller.

“I had a wonderful time visiting the Ascent Resources oil and natural gas rig in Ohio with my tax team to see and discuss oil and gas extraction. Both Ohio and West Virginia are full of invaluable energy sources, that’s why it’s our goal to rely on our own sources found here in the United States to keep our country energy independent. We must also protect intangible drilling costs and percentage depletion to create more opportunities to drill for oil and gas in the United States which will produce additional jobs, promote investment, and strengthen our national economy,” said Congresswoman Miller.

“I was excited to join my fellow Supply Chains Tax Team members in Ohio. We took a tour to see for ourselves just how complex oil and natural gas production really is. We also had a productive roundtable discussion on the importance of domestic fuel production for our economy and our national security. I am committed to American energy independence. I enjoyed hearing the industry perspective regarding what Congress can do, specifically regarding tax policy, to support our fuel production industries and lower energy costs for consumers," said Congresswoman Fischbach.

“Following our recent trip to Southwest Virginia, I enjoyed touring an oil rig in Ohio to see the unlimited potential of American energy production. We had a firsthand look at the intricacy of oil extraction and its importance to our economy. American energy production strengthens our economy, supports good jobs, and protects our national security. As a member of the Supply Chains Tax Team, I will continue to work with my colleagues to support homegrown American energy like oil, gas, and Iowa biofuels,” said Congressman Feenstra.

"The House Ways & Means Supply Chains Tax Team, led by Chairwoman Carol Miller, should be commended for their work to gain first-hand experience on the crucial role American-made energy plays for our country's well-being. They understand that our nation is stronger, and the world is safer when America is the leader in energy production, and that responsible tax and fiscal policies are integral to achieving and expanding American energy dominance," said AXPC CEO Anne Bradbury.

Background:

The Ways & Means Tax Team was created to investigate the success of President Trump’s Tax Cuts in 2017 and find places where improvements could be made during reauthorization in 2025. Specifically, Congresswoman Miller’s Supply Chains Tax Team focuses on energy tax incentives, corporate rates, and capital gains tax.

Congresswoman Miller's tax team hosted a roundtable with CNX stakeholders in Virginia earlier this month where they toured CNX’s Mine Methane Capture Facility discussing how capturing waste methane can benefit U.S. energy security.

Intangible drilling costs (IDCs) lead to job creation by allowing oil and natural gas companies immediate deductions on expenses related to intangible assets for reinvestment into future projects.

Percentage depletion is a tax deduction reflecting declining resource reserves' production for businesses extracting fossil fuels or minerals.

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