A Senate Republican wants to use his party’s budget package to get midsize oil and gas producers relief from taxes imposed on companies in the Democrats’ 2022 climate law.
Oklahoma Sen. James Lankford’s move comes as the House and Senate look to approve fresh budget blueprints that would give committees instructions to write the party-line legislation.
A member of the Senate Finance Committee, Lankford said he’s been focused on reworking the tax code to allow deductions for intangible drilling costs.
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“That’s one I want to pull out and say — you may disagree with oil and gas, and I understand they disagree with oil and gas — but don’t punish them because the whole country still needs it,” Lankford said Thursday.
