|The American economy is on the rebound following COVID-19 headwinds, but that could change should lawmakers continue pushing tax hikes on the very businesses hiring workers and supporting our economic recovery. With recent proposals to raises taxes on our industry currently circulating in Congress, it is important members of the Chevron Advocacy Network are up to date on how this could impact Chevron, our industry and our economic future.
Allowing the federal government to pick winners and losers could weaken our economy, hurt America’s ability to produce energy and costs jobs. If we discriminate against the energy industry the results could be devastating. Let’s not risk our economic recovery with bad tax policy right as the country is finally turning the corner.
Facts to know about the current tax code:
Energy producing states already impose taxes or collection fees including:
What you can do:
As policymakers on Capitol Hill currently weigh different tax reform policies, we will look to you to help advocate for commonsense policies that foster new business investments and enable our industry to grow, while at the same time making meaningful contributions to the American economy.
You’ll be hearing more from us in the coming weeks on ways you can get involved and take action against imposing harmful, duplicative taxes on our industry – so be on the lookout for our next email which will provide an opportunity for you to contact your legislators!