Mr. Mann (for himself, Mr. Estes, Mr. Schmidt, and Mr. Pfluger) introduced the following bill
Support legislation to modify percentage depletion rules for oil and gas wells to help small oil and gas producers and rural jobs.
Occurrences
Evidence
Congress.gov bill text lists Ron Estes among the members for whom H.R.5073 was introduced. The bill would amend the Internal Revenue Code to account for intangible drilling and development costs and depletion expense in adjusted financial statement income. Congress.gov lists the bill's latest action as referral to House Ways and Means and status as introduced.
Assessments
Estes took a concrete federal legislative step by being associated with H.R.5073, a 118th Congress oil-and-gas tax bill addressing depletion expense and intangible drilling costs. However, the cited bill was only introduced and referred to committee, not enacted, and it does not clearly deliver the specific promised change to percentage depletion rules for small oil and gas producers. This supports credit for effort on a closely related policy area, but not full fulfillment of the promised legislative outcome.