U.S. Refiners to Benefit Most From Tax Code Rewrite

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Researched by Industrial Info Resources (Sugar Land, Texas)--While there appear to be a number of winners within the domestic energy sector itself, U.S. refiners look to be to be the standout gainers from the most sweeping rewrite of the U.S. tax code in 30 years and may launch a capital spending spree in 2018.

The long-running debate over tax reform finally came to an end December 20 as the U.S. House and Senate voted along party lines to pass the largest overhaul of the nation's tax bill in 30 years. The Republican tax reform, which President Donald Trump signed into law two days later, lowers the corporate income tax rate from 35% to 21%, rewards investment in new projects and is widely seen as benefitting the oil and gas industry - refining companies in particular. Industrial Info is tracking $10 billion in project kickoff activity involving refiners in 2018.

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Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.