June 25, 2020
By News Director Jared Atha
Senator James Lankford (R-OK) along with Jim Inhofe (R-OK) and lawmakers from Texas, Wyoming, North Dakota, Arkansas, Mississippi and West Virginia introduced a bill recently to provide relief to America’s energy industry during the coronavirus pandemic
Senator Lankford says the SAVE Jobs Act aims to promote liquidity and flexibility for domestic energy companies so they can maintain their workforce through the pandemic’s economic downtown.
Along with the tax incentives, Lankford says other highlights of the bill include, providing immediate relief to those with leases on federal lands and waters by streamlining existing authority to grant lease extensions, suspensions of production, and suspensions of operations during the pandemic, and simplifying the existing process for royalty rate reductions to provide more timely relief during the pandemic.