The House Ways and Means Committee released a draft bill for tax reform on Wednesday November 1st and they left percentage depletion exactly as it is today!!!
Next week the House will begin “mark-up” and we anticipate floor debate the week of November 13th. The Senate Finance Committee is expected to deliver its draft next week or the week after.
If you made calls to Ways and Means Committee members, as we asked, PLEASE call those offices back and say something like:
“I called your office to encourage the Congressman/woman to preserve percentage depletion for oil and gas royalty owners. I wanted to say THANK YOU for leaving this very important deduction as it is and has been since the 1920’s.”
Keep watching as you may need to call Senate Finance Committee members in the next couple of weeks as they move their bill and they get into mark-up.
STAY TUNED.
YOU CAN SAVE PERCENTAGE DEPLETION!!
Ways and Means Committee Members for a Thank You follow up call are:
Kevin Brady (TX-8) 202-225-4901 Sam Johnson (TX-3) 202-225-4201 Pat Tiberi (OH-12) 202-225-5355 Peter Roskam (IL-6) 202-225-4561 Lynn Jenkins (KA-2) 202-225-6601 Kenny Merchant (TX-24) 202-225-6605 Diane Black (TN-6) 202-225-4231 Tom Reed (NY-23) 202-225-3161 Mike Kelly (PA-3) 202-225-5406 Jim Renacci (OH-16) 202-225-3876 Pat Meehan (PA-7) 202-225-2011 Kristi Noem (SD-at large) 202-225-2801 Jason Smith (MO-8) 202-225-4404 Mike Bishop (MI-8) 202-225-4872
A full list of committee members is located here: