Fuel Refiners, Petrochemical Manufacturers Urge Congressional Democrats to Stand Strong, Reject New Taxes on American-Refined Energy, Plastics

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The same is true of taxes aimed atplastics.Consumers will feel the pain of these taxes, likely in the form ofhigherprices ongas andconsumer goods.

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Provider: 
GlobeNewswire, Inc.GlobeNewswire, Inc.
Retrieved on: 
Wednesday, September 22, 2021
Information
Tags: 
Radio, Man, Tax, PPE, Congress, American Fuel and Petrochemical Manufacturers, Personal protective equipment, House, Representative, AFPM, Television, Consumer, Plastic, Food packaging, Woman, Pain, Leadership, Democrat, Gasoline, Industry, Association, GLOBE, Petroleum
Geotags: 
WASHINGTON, DC, CHINA, UNITED STATES, TEXAS
Organisation: 
AMERICAN FUEL & PETROCHEMICAL MANUFACTURERS
Summary
Key Points: 
  • The same is true of taxes aimed atplastics.Consumers will feel the pain of these taxes, likely in the form ofhigherprices ongas andconsumer goods.
  • Debates in Congress over the budget reconciliation bill have raised the potential for new taxes to be levied against American refineries and petrochemical facilities.
  • Among the taxes being discussedfor possible inclusion by members of the House and Senateare methane taxes, border carbon adjustments and plastic production taxes.
  • A methane tax would extend to entities that process crude oil feedstocks, including fuel refineries that manufacture gasoline,dieseland jet fuel.



Washington, D.C., Sept. 22, 2021 (GLOBE NEWSWIRE) -- The American Fuel & Petrochemical Manufacturers (AFPM) is launching a seven-figure ad campaign today urging Democrats in the House of Representatives to reject new, punitive taxes aimed at American-refined energy and American-made plastics. The campaign includes television, radio, digital video and print components—in Spanish and English—and is centered around Democratic members of Congress in Texas and Central California.

 

AFPM President & CEO Chet Thompson said, regarding the launch of the campaign: 

 

“Any tax that makes it more expensive to make gasoline, diesel and jet fuel right here in America is at odds with the President’s promise that tax increases will not hit working families. The same is true of taxes aimed at plastics. Consumers will feel the pain of these taxes, likely in the form of higher prices on gas and consumer goods.  

 

“America’s economic and energy security, high-paying jobs and global competitiveness would be compromised if crippling new taxes on energy and plastics are incorporated into the budget reconciliation bill. It’s stunning that while China is doubling down on its refining industry and petrochemical capacity—investing billions in growth—some in Washington are considering policies that would set our industries back and raise energy prices for hardworking Americans.  

 

“Thankfully, there are voices of reason in Congress who understand the repercussions of tax policies like these on constituents who are already shouldering higher costs of living. Many of these same Members are champions for the fuel refining and petrochemical industries, the men and women who work at our facilities, and the jobs supported by them. We appreciate the leadership of these Members and urge them to stand strong throughout the budget reconciliation process by saying no to any new taxes aimed at American-refined energy and American-made plastics.” 

 

Debates in Congress over the budget reconciliation bill have raised the potential for new taxes to be levied against American refineries and petrochemical facilities. Among the taxes being discussed for possible inclusion by members of the House and Senate are methane taxes, border carbon adjustments and plastic production taxes. A methane tax would extend to entities that process crude oil feedstocks, including fuel refineries that manufacture gasoline, diesel and jet fuel. A border carbon adjustment would impose a charge on imported crude oil, which accounts for 40 percent of what runs through American refineries. The plastic tax being discussed would add a 20-cent-per-pound tax penalty to plastics produced in the United States, regardless of whether the plastics are used in medical equipment, food packaging or personal protective equipment (PPE).    

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The American Fuel & Petrochemical Manufacturers (AFPM) is the leading trade association representing the makers of the fuels that keep us moving, the petrochemicals that are the essential building blocks for modern life, and the midstream companies that get our feedstocks and products where they need to go. We make the products that make life better, safer and more sustainable — we make progress. For more information about AFPM, please visit www.afpm.org.


Ericka Perryman
American Fuel & Petrochemical Manufacturers
(202) 457-0480
[email protected]

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