Depletion Allowance - calling the Senate

If you are so inclined, to preserve the depletion allowance, call the Senate Finance Committee Members today and tomorrow.

Your call should be simple . . .
“I understand the Finance Committee is preparing a draft on tax reform. As an oil and gas royalty owner I want to express my sincere desire that the Committee maintain percentage depletion as it currently exists just as the House Ways and Means Committee did.”

To the right is a list of Committee members to concentrate on.

If your Senator is not listed still make the call just say . . .
“My Senators are not on the Finance Committee but I understand the Committee will make decisions that could have a dramatic effect on me and my family . . .”
Then say the above statement on percentage depletion.

We have heard that the Finance Committee is considering a limit on percentage depletion of 20% of the adjusted cost basis. Determining a cost basis can be very difficult. This is one of the reasons Congress enacted percentage depletion.

Committee Members to Call

Hatch (UT) 202-224-5251
Grassley (IA) 202-224-3744
Crapo (ID) 202-224-6142
Roberts (KS) 202-224-4774
Enzi (CO) 202-224-3424
Cornyn (TX) 202-224-2934
Thune (SD) 202-224-2321
Burr (NC) 202-224-3154
Isakson (GA) 202-224-3643
Portman (OH) 202-224-3353
Toomey (PA) 202-224-4254
Heller (NV) 202-224-6244
Scott (SC) 202-224-6121
Cassidy (LA) 202-224-5824