American fuel and petrochemical manufacturers contribute nearly $600 billion to the U.S. economy. We also create the jobs that employ over three million Americans and account for more than $65 billion in federal tax revenue and $21 billion in state and local taxes. This provides funding for teachers, law enforcement officers and first-responders, as well as roads, schools and other critical infrastructure.
Recent legislation modernizing our tax code and establishing a more favorable domestic business environment has already stimulated significant new investments by fuel and petrochemical manufacturers. With this and other sound tax policies in place, Americans will ultimately see more investment by companies in new technologies, job creation and greater contributions to the U.S. economy.