June 16, 2025
Washington, D.C. – Today, the American Exploration & Production Council (AXPC) released the following statement supporting the Senate Finance Committee’s reconciliation provisions. Critically, the legislation’s energy title restores the immediate expensing of intangible drilling costs and ensures a clear, predictable tax framework to spur new investment, production, and jobs in American energy.
Anne Bradbury, AXPC CEO, said:
AXPC applauds Senator Lankford’s leadership and the support from Chairman Crapo and other key Republican senators who’ve championed the need for durable, fiscal reform to secure American energy dominance.
“From reversing the Biden-era tax penalty on intangible drilling costs to accelerating innovation in the field, this legislation provides common-sense solutions that will enable America’s independent producers to invest in new production and jobs.
“Smart tax policy is essential to ensuring the long-term strength of American-made oil and gas, and we urge Congress to include these reforms in the final reconciliation package.
BACKGROUND
