Koch Industries Issues Statement on House Passage of Tax Bill

December 17, 2019

min read

Philip Ellender, president of government and public affairs for Koch Industries, issued the following statement today on a congressional spending deal that would allow certain tax extenders to expire while renewing or reviving others:

“The latest deal struck by the White House and congressional leaders is far from perfect, but it’s refreshing to finally see many special interests walk away from the table empty-handed. For example, it’s promising that lawmakers nixed an extension of tax credits for electric vehicles that would have cost as much as $15.7 billion over the next decade, that a recent TIGTA report found to be funding ineligible vehicles by as much as $81.7 million. We oppose such incentives – even the renewed biodiesel tax credit, despite being one of the country’s largest ethanol producers – as they distort the market’s perception of what people truly value.

“Moving forward, Congress should look for more opportunities to end even more of these tax provisions, including any incentives given to us and our competitors. As we head into 2020, it’s time for consumer choice and innovation to lead the way, not subsidies and handouts that drive up government spending and our national debt.”