Pipeline companies are asking House Republican leaders to adjust the tax reform bill that would drastically shrink tax breaks and limit how much interest they can deduct from borrowing costs on construction projects.
As Congress nears a critical vote on the legislation, pipeline companies are fighting to maintain the tax breaks that allow them to deduct from the borrowing costs of construction projects that take them years to permit and build.
The Interstate Natural Gas Association of America, which has representatives from pipeline companies like Enbridge and Kinder Morgan, sent a letter House Republican leaders asking them to adjust a provision in the bill that would limit how much they can deduct.
The association wrote that failure to maintain the current deduction limit could result in higher cost of capital for pipeline and other infrastructure projects in the future, which would also raise energy costs for consumers.
Senate and House Republicans hope to send the legislation to President Trump to sign before the end of the year.