releases: https://www.enzi.senate.gov/public/index.cfm/news-releases?ContentRecord_id=95e2836b-d925-426b-9ee7-f134499bf5c3
Data license: MIT · Data source: dwillis/congress-press
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| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
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| https://www.enzi.senate.gov/public/index.cfm/news-releases?ContentRecord_id=95e2836b-d925-426b-9ee7-f134499bf5c3 | Transition key to any changes in energy tax policy | 2014-09-17 | 2014 | 2014-09 | Republican | House | WY | Michael Enzi | E000285 | www.enzi.senate.gov | legacy | If Congress were to suddenly change tax policy so homeowners could no longer deduct from their taxes the interest they pay on their mortgages, it would create major financial problems for a lot of people. Though this is not something that he sees happening, U.S. Senator Mike Enzi, R-Wyo., used this example at a U.S. Senate Finance Committee hearing today on the energy tax code, to illustrate what would happen to oil and gas companies if, as some have proposed, Congress were to suddenly take away tax deductions important to them. “If we were to eliminate some of these things (deductions) overnight, we would create a real cash flow problem in the United States,” Enzi said. Well-thought-out, incremental changes with time built in for people and companies to adjust to the new policies is essential to any tax reform, according to Enzi, who worked as an accountant before being elected. Enzi said oil and gas development is as important as development of renewable energy and when discussing the alteration of energy tax policy for different sectors, great care needs to be made to ensure different deductions are being compared accurately. “One of the tax increases the Administration wants is changing the deductibility of intangible drilling and development costs…this is more comparable to amortization and depreciation so the loss of this deduction for producers would reduce their available capital immensely,” Enzi said. Enzi believes this could mean less energy production, less energy and higher energy prices for everyone. Enzi and other members of the Finance Committee heard from representatives of the oil and gas industry, renewable energy sector, academics and others. To access testimony and video from the hearing click here. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |