{"database": "press", "table": "releases", "rows": [["https://www.barrasso.senate.gov/newsroom-news-releases-barrasso-introduces-bill-to-repeal-book-minimum-tax-2/", "Barrasso Introduces Bill to Repeal Book Minimum Tax", "2023-05-11", "2023", "2023-05", "Republican", "Senate", "WY", "John Barrasso", "B001261", "www.barrasso.senate.gov", "barrasso", "https://www.barrasso.senate.gov/newsroom/news-releases/", "scraper", "WASHINGTON, D.C. \u2013 Today, U.S. Senator John Barrasso (R-Wyo.) reintroduced legislation (S. 1559) to repeal the largest tax hike from the Democrats\u2019 reckless tax and spending bill.\n\nThe reckless tax and spend bill\u2019s book minimum tax is an arcane tax on U.S. job creators investing in America. The tax claws back longstanding provisions to help promote economic growth and investment, while creating loopholes for special interest groups.\n\nThe Book Minimum Tax Repeal Act will unwind this harmful provision and stop unelected bureaucrats from manipulating tax policy to benefit their favorite industries.\n\n\u201cCompanies in the United States need to be focused on creating more American jobs and unleashing American energy. Reckless and complicated taxes like this undermine our supply chain, threaten our energy security, and send jobs and investment overseas,\u201d said Senator Barrasso. \u201cBusinesses looking to build our economy and invest in Wyoming don\u2019t need more punishing taxes. They especially don\u2019t need unelected bureaucrats to have more control of U.S. tax policy. We need to repeal this once-failed tax once and for all.\u201d\n\nCosponsors of this legislation include U.S. Senators Mike Crapo (R-Idaho), Cynthia Lummis (R-Wyo.), James Lankford (R-Okla.), Todd Young (R-Ind.), Bill Cassidy (R-La.), Steve Daines (R-Mont.), Marsha Blackburn (R-Tenn.), Jim Risch (R-Idaho), and Mike Braun (R-Ind.).\n\nThis bill is supported by the National Association of Manufacturers, the National Mining Association, the American Institute of CPAs, the Independent Petroleum Association of America, the Western Energy Alliance, the U.S. Chamber of Commerce, and the American Petroleum Institute.\n\n\u201cThe Book Minimum Tax Repeal Act will help ensure that the next manufacturing dollar is spent in America and enable the growth of family-supporting manufacturing jobs. We thank Senator Barrasso for his support of the manufacturing sector and urge Congress to pass this important legislation.\u201d \u2013 Chris Netram, Managing Vice President, Tax & Domestic Economic Policy, National Association of Manufacturers\n\n\u201cSenator Barrasso continues to show that he understands the challenges facing Americans and the American economy with commonsense legislation that recognizes the economic rollercoaster this country has been on over the last few years. With energy inflation recently touching levels not seen in four decades \u2013 instead of raising taxes and adding to the financial burden of job creators \u2013 we need to focus on reshoring our supply chains, ramping up production of American energy and materials, and strengthening our economy through solid job creation in foundational industries.\u201d \u2013 Rich Nolan, President and CEO, National Mining Association\n\n\u201cThe AICPA continues to oppose the corporate AMT, which increases tax code complexity and risks interfering with accounting rule making and financial reporting. We are grateful to Senator Barrasso for his leadership on this issue.\u201d \u2013 Barry Melancon, CPA, CGMA, President and CEO, American Institute of CPAs\n\n\u201cRaising taxes on energy means raising costs for working families. IPAA applauds Senator Barrasso\u2019s efforts to keep energy reliable and affordable for all Americans.\u201d \u2013 Jeff Eshelman, President and CEO, IPAA\n\n\u201cThe book minimum tax was specifically designed to target the oil and natural gas industry even though America needs more domestically produced energy to keep prices affordable for consumers, not less. Congress significantly increased costs on American energy producers in the inaptly named Inflation Reduction Act, thereby ensuring energy inflation continues well into the future. Senator Barrasso\u2019s bill to reverse the book minimum tax would correct bad policy designed to harm producers of the energy that meets over 70% of Americans\u2019 needs. All forms of energy are necessary to ensure our society functions properly, but IRA was ill-conceived to disadvantage the very sources of energy that supply the vast majority of American energy while favoring intermittent sources that provide a small fraction. We urge Congress to pass the Book Minimum Tax Repeal Act.\u201d \u2013 Kathleen Sgamma, President of Western Energy Alliance\n\nFull text of the legislation can be found here.\n\n###", 1, "2026-03-30T01:40:41Z", "2026-04-06T18:07:47Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.barrasso.senate.gov/newsroom-news-releases-barrasso-introduces-bill-to-repeal-book-minimum-tax-2/"], "units": {}, "query_ms": 0.7648668251931667, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}