A group of Democratic senators has asked the Treasury Inspector General for Tax Administration (TIGTA) to investigate the IRS’ legal basis for allowing liquefied natural gas tankers to claim a tax credit they say is intended for motorboats.
An August 20 letter headed up by Senator Jeff Merkley (D-OR) questions whether the IRS properly allowed companies to claim the alternative fuel excise tax (AFET) credit for fuel used to propel liquefied natural gas (LNG) tankers.
The letter, which Senate Democratic Leader Chuck Schumer (D-NY), and Senators Chris Van Hollen (D-MD), Edward Markey (D-MA), and Sheldon Whitehouse (D-RI) signed on to, also asks whether the decision was intended to reward political donors to President Trump. The lawmakers urge TIGTA to open an investigation.
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