Overhaul of tax code won't likely occur in 2013, Gerard says

09/17/2013 | Bloomberg

Due to political divisions in Congress, an overhaul of the tax code is unlikely to occur this year, said Jack Gerard, president and CEO of the American Petroleum Institute. He added that it would be unfair for the oil and natural gas industry to be specifically targeted by any proposed changes to the tax code. A proposal to curb tax incentives for drilling costs, for example, could affect oil and natural gas output, Gerard said.

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