re: Chyna Joe another nail in the oil industry

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My understanding is he is going after things like MLPs (now wanting to tax the entity and then also the investor's income); depletion allowances, allowances for intangible drilling costs, etc.

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That ain't happening under an EO. That is tax law. Congress needs to make those changes. And those legal corporate structures are not subsides. FWIW, those corporate structures were set up to incentivize energy companies to bring reliable energy to consumers. Renewable energy producers can participate in those corporate structures too. It's not limited to just O&G energy providers.

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My understanding is he is going after things like MLPs (now wanting to tax the entity and then also the investor's income); depletion allowances, allowances for intangible drilling costs, etc.

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Back when America still followed the Constitution, he'd need to work with Congress to change those policies. And Congress used to not like to forfeit these powers to the Executive Branch, but have increasingly done so, making our Constitution moot.

"depletion allowances" are legitimate and proper, since they reflect the decreasing value of the initial investment in buying or leasing land with reserves. There's literally nothing wrong with that - it reflects an economic reality.

Geez. Double taxation of partnerships would also seem to require Congressional action... at least back when the President could not write law.

But frick, the Executive Branch now can extend the lowering of the statutory rates on student loans to 0%, costing taxpayers, without getting Congressional approval. I'd have to dig through the legislation to see if this was yet another Congressional power they abdicated to the Executive Branch in the Muh COVID Relief Bill.

There's a legal concept of what powers can be legally delegated to another branch, but I'm not sure where that fits in here.