News & Analysis as of

Tax Cuts and Jobs Act Oil & Gas

Vinson & Elkins LLP

One Big Beautiful Bill Act: Key Tax Impacts for Businesses

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On July 4, 2025, President Donald J. Trump signed the One Big Beautiful Bill Act (the “OBBBA”) into law. Congress passed the OBBBA through budget reconciliation, a special legislative process that allows Congress to advance...more

Pillsbury Winthrop Shaw Pittman LLP

From “Energy Transition” to “Energy Security”: Assessing the Impact of the Republican Trifecta on the Energy Industry

With a renewed focus on domestic energy production and regulatory reform, the incoming administration signals significant shifts in U.S. energy and climate priorities. The incoming Trump Administration will prioritize...more

Mintz - Energy & Sustainability Viewpoints

2024 Post-Election Analysis: Energy & Sustainability

In the month since the presidential election, some things are starting to become clearer though many questions remain....more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Feb. 7, 2023

Debt Limit Negotiations Stall as Treasury Department Begins Extraordinary Measures. On Jan. 19, the U.S. government reached its $31.4 trillion borrowing limit, which was signed into law by President Joe Biden late last year....more

Bracewell LLP

PRG Pulse 2022 Post-Election Analysis

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The Big Picture - Congressional Overview - American voters delivered a decidedly mixed message to Washington on Tuesday, seemingly handing Republicans narrow control of the U.S. House of Representatives and a nominal check...more

McDermott Will & Schulte

Weekly IRS Roundup April 24 – April 30, 2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 24, 2022 – April 30, 2022... April 25, 2022: The IRS issued a news release, soliciting...more

Ruder Ware

Increase in Gasoline Prices Means Increase in Optional Standard Mileage Rates for 2022

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The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2022, and the increase in rates...more

Bracewell LLP

Will Congress Rollback Trump Regulatory Actions to Advance the Biden Policy Agenda?

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Recent news that the Democrats flipped both U.S. Senate seats in Georgia’s run-off election means that the Democrats have enough votes to add the Congressional Review Act (CRA)[1] to the tools that could be used to advance...more

Bracewell LLP

2020 Post-Election Analysis: Issue by Issue

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FIRST 100 DAYS - As President-elect Biden stands poised to assume the office he has aspired to for the past three decades, he inherits a national crisis not unlike the one he stepped into as vice president nearly 12 years...more

Robins Kaplan LLP

Financial Daily Dose 1.6.2020 | Top Story: Oil Futures Jump as Concerns Deepen Over Mideast Volatility

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Oil jumped for a second straight day, with futures near $70/barrel as fallout from the U.S.’s drone-strike assassination of Iran’s Qassem Soleimani continues to raise “the prospect of disruptions in the world’s most important...more

Brownstein Hyatt Farber Schreck

Year-End Spending Bill Includes Tax Extenders, Disaster Tax Relief

Just past midnight on Dec. 17, lawmakers released an amendment to one of two spending bills released on Dec. 16—H.R. 1865—the Further Consolidated Appropriations Act of 2020. Most notably, the amendment included an extension...more

Robins Kaplan LLP

Financial Daily Dose 11.16.2019 | Top Story: Aramco Seeks Valuation of $1.7B, Well below Original Goal

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Saudi Aramco’s slow trickle of IPO-related information continued this weekend, including its goal of setting overall company market value at a staggering $1.7 trillion. The figure, though massive, is still well short of the...more

Opportune LLP

Outsourcing the Standardized Measure of Oil & Gas (SMOG) Calculation

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As many public oil and gas companies have made it through another year-end, it is a best practice to review what went right and what could be improved. Such questions to address include: Where did the reporting process not...more

Bracewell LLP

Post-Election Update 2018

Bracewell LLP on

2018 MIDTERMS: The Power of Women, Possibility, and Partisan Rancor - The 2018 midterm elections showcased the power of women, both as candidates and as a key voting demographic. The elections represented a new political...more

Opportune LLP

Proposed Bonus Depreciation Regulations Favorable For Certain Energy Partnership Transactions

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President Trump signed into law the Tax Cuts and Jobs Act (the “TCJA”) on December 22, 2017. Included in the TCJA were amendments to IRC §168(k), which permits taxpayers to expense 100% of the costs of certain qualified...more

Jackson Walker

Brian Dethrow Analyzes Tax Benefits of Qualified Opportunity Zones

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Last year’s tax bill created an incredible opportunity for tax-free investment. It permits investors to sell or exchange appreciated assets, invest the gain in just about any sort of venture within a geographically designated...more

McGuireWoods LLP

FERC Clarifies Process for Evaluating Gas Pipeline Rates in Light of Income Tax Cuts

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July 26, 2018 On July 18, in two companion orders, the Federal Energy Regulatory Commission (FERC): (1) affirmed the Revised Policy Statement on Treatment of Income Taxes, and (2) provided guidance regarding the treatment of...more

Eversheds Sutherland (US) LLP

FERC orders natural gas pipelines to address federal income tax changes

On July 18, the Federal Energy Regulatory Commission (FERC) issued orders (i) adopting procedures to implement the federal corporate income tax rate reduction in natural gas pipeline rates, and (ii) providing guidance...more

King & Spalding

FERC Initiates Sweeping Reform of Ratemaking Treatment for Income Taxes

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On March 15, 2018, the Federal Energy Regulatory Commission (FERC) released a series of issuances intended to address the need to reflect the lower maximum corporate income tax rate adopted under the Tax Cuts and Jobs Act of...more

Jones Day

FERC Announces Initiatives Regarding Income Tax Cost Recovery for Pipelines and Utilities

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The Situation: The United Airlines, Inc. v. FERC decision and the reduction of corporate income tax rate in the Tax Cut and Jobs Act significantly lowered the tax costs able to be included in the jurisdictional rates of...more

Orrick, Herrington & Sutcliffe LLP

FERC Abandons Tax Allowance in MLP Pipeline Rate Setting and Signals Changes Due to Tax Act Rate Drop

On Thursday, March 15, 2018, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued a series of orders and notices to address changing the treatment of income tax costs in rate setting for oil and natural...more

Eversheds Sutherland (US) LLP

FERC eliminates tax allowances for MLP pipelines, proposes tax-related rate reviews

On March 15, 2018, the Federal Energy Regulatory Commission (FERC) issued important orders regarding two significant tax-related rate matters affecting interstate oil and natural gas pipelines. The action eliminated tax...more

Cadwalader, Wickersham & Taft LLP

FERC Addresses Effects of Tax Cuts on Jurisdictional Rates and Disallows Income Tax Component in MLP-Owned Partnership Pipeline...

On March 15, 2018, the Federal Energy Regulatory Commission (“FERC”) issued an order on remand disallowing an income tax component in cost-of-service rates charged by an interstate oil pipeline owned by a master limited...more

Latham & Watkins LLP

Tax Cuts & MLPs: FERC Announces Changes Designed to Reduce Cost-Based Rates Charged by Regulated Pipelines

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FERC eliminates tax allowance in MLP pipelines’ cost-based rates and establishes procedures to address income tax changes. Key Points: ..FERC will no longer permit MLPs to recover an income tax allowance in cost-based...more

Davis Wright Tremaine LLP

FERC Should Reconsider Its Bias in Favor of Incremental Pricing of Pipeline Expansions

At his first Federal Energy Regulatory Commission (FERC) meeting this past December, Chairman Kevin McIntyre announced the agency will be soliciting comments on whether to revise its 1999 Certificate Policy Statement (CPS),...more

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