Senate Finance Committee Approves LNG Tax Fix Proposal
On Wednesday, the Senate Finance Committee approved a bipartisan proposal from Sen. Michael Bennet (D-CO) and Richard Burr (R-NC) during its Open Executive Sessions that will convert the tax on LNG to an energy equivalency basis. The original bill (S. 344), which is based on the “LNG Excise Tax Equalization Act of 2015” (H.B. 905), will now be considered by the full Senate. The advancement of bipartisan Bennet-Burr proposal by the Senate Finance Committee is a positive step toward removing a significant barrier to the expanded use of LNG.