Pipeline master limited partnerships (MLPs) want the Federal Energy Regulatory Commission (FERC) to reverse a March 2018 revised policy statement (RPS) that has dramatically hurt their financial conditions. The elimination of an MLP tax allowance would be exacerbated by a second March FERC proposal which would significantly and negatively affect the rates they charge shippers. It allows pipelines to voluntarily file rate reductions to reflect the decrease in their federal corporate income tax, thanks to the Tax Cuts and Jobs Act (TCJA) signed by President Trump last December, or explain why no action is needed other than the informational filing.
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