US energy sector on edge over tax overhaul

摘要

The ambitious corporate tax overhaul proposed by Republicans in the US House of Representatives offers benefits to the US energy industry. But a key provision - a border adjustment tax - is proving unpopular. The comprehensive tax overhaul would slash corporate tax rates to 20pc, down from 35pc today. It would block companies from taking a tax deduction on imported feedstocks, including crude and products, while exempting income from exports from US corporate taxes altogether.