H.R.2184 – End Oil and Gas Tax Subsidies Act
I find characterizing amortization schedules for high-capital-investment industries as “subsidies” very frustrating. This situation doesn’t arise because the govt is handing out freebies, but because capex on oil and gas projects is very front-loaded — it takes some time to spud in a rig, build a refinery, etc., and during that time the asset is unproductive. That’s why amortization works the way it does! It’s not the evil govt trying to prop up a supposedly failing industry …