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Jennifer O’Shea, 202-824-7023
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 AGA Statement on President Obama’s Agreement to Extend Bush era Tax Legislation   


Washington, DC — The American Gas Association (AGA) today released the following statement from Dave Parker, AGA president and CEO, in regard to the agreement to extend the Bush-era tax cuts.

“AGA is encouraged by the announcement that President Obama and congressional Republicans have agreed to extend the 2003 Jobs and Growth Tax Reconciliation Act, which reduced the maximum dividend tax rate to 15 percent, for an additional two years.”

“This agreement preserves current lower dividend tax rates, providing needed certainty for America’s energy utilities and their investors who rely on stable, predictable dividend income.  AGA also looks forward to working with all parties to support the president’s stated long-term goal of creating tax parity between dividends and capital gains, and taxing them at lower rates than ordinary income.”

“To ensure that all investors are protected, Congress should quickly pass this legislation and send it to President Obama for his signature.”

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The American Gas Association, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 71 million residential, commercial and industrial natural gas customers in the U.S., of which 94 percent — over 68 million customers — receive their gas from AGA members. Today, natural gas meets almost one-fourth of the United States' energy needs.

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