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Bill

HR 313

Natural Gas Tax Repeal Act

119th Congress Introduced by Dan Crenshaw and 4 co-sponsors

HR 313 aims to repeal federal taxes on natural gas, lowering energy costs for consumers and encouraging investment, potentially boosting jobs in the energy sector.

Introduced in House
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WeVote Research Nonpartisan
Bill Summary · HR 313

Summary of HR 313 - Natural Gas Tax Repeal Act

Bill Overview

Bill Number: HR 313
Title: Natural Gas Tax Repeal Act
Status: Introduced in House
Introduced Date: January 09, 2025
Classification: Bill

Purpose and Intent

The Natural Gas Tax Repeal Act aims to eliminate existing taxes on natural gas production and distribution. The primary intent of the bill is to reduce the financial burden on natural gas companies, thereby promoting lower energy costs for consumers and encouraging investment in the natural gas sector.

Key Provisions

  • Repeal of Taxes: The bill proposes the repeal of specific federal taxes currently imposed on the production and distribution of natural gas.
  • Impact on Pricing: By removing these taxes, the bill is expected to lower the overall cost of natural gas for consumers and businesses.
  • Encouragement of Investment: The repeal is designed to stimulate investment in natural gas infrastructure and production, potentially leading to job creation in the energy sector.

Affected Parties

  • Natural Gas Producers: Companies involved in the extraction and distribution of natural gas will be directly impacted by the tax repeal, likely benefiting from increased profit margins.
  • Consumers: Households and businesses that rely on natural gas for heating, cooking, and energy will potentially see reduced utility bills.
  • Energy Sector Workers: The bill may lead to job growth in the natural gas industry as companies expand operations in response to the tax relief.

Legislative Process

  • Committee Referral: Upon introduction, HR 313 was referred to the House Committee on Energy and Commerce for further consideration.
  • Companion Bill: There is a related bill, S 143, which serves as a companion measure in the Senate, indicating bipartisan interest in the repeal of natural gas taxes.

Conclusion

The Natural Gas Tax Repeal Act (HR 313) represents a significant legislative effort to alleviate taxes on natural gas, with the potential to impact energy prices and stimulate economic growth within the sector. As the bill progresses through the legislative process, stakeholders will be closely monitoring its developments and implications for the energy market.

Compiled from official sources — confirm details with the bill’s official record.

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