US Senator Ron Wyden (D-Ore.) speaks at a press conference on the upcoming deadline for the release of the Jeffrey Epstein files, in Washington, DC on December 16, 2025.
Wyden Denounces 'Highly Questionable' $370 Million Tax Giveaway to Gas Giant by Trump IRS
Sen. Ron Wyden called the IRS' decision to grant Cheniere Energy a massive tax windfall "extremely troubling" given that it was one of the companies President Donald Trump promised to help during the 2024 campaign.
Sen. Ron Wyden is calling foul over a $370 million tax break that the Trump administration recently gave to Texas-based gas company Cheniere Energy.
In a letter to Cheniere CEO Jack Fusco, Wyden (D-Ore.) demanded more information from the company about the windfall it received after the Internal Revenue Service (IRS) signed off on what the senator described as a "novel and highly questionable tax position."
According to Wyden, the IRS determined Cheniere was eligible to receive the Section 6426 credit—intended to incentivize the use of "alcohol fuel, biodiesel, and alternative fuel mixtures"—which the energy company said it used to power its liquified natural gas (LNG) transport carriers.
Taking advantage of the tax credit in this manner, Wyden argued, is a complete distortion of what it was intended to accomplish.
"The alternative fuel tax credit that Cheniere claimed is for alternative fuel mixtures in 'motorboats,'" wrote Wyden. "'Motorboat' is defined elsewhere in federal regulations as a vessel '65 feet in length or less.' LNG carriers are closer to one thousand feet in length, and the 'alternative fuel' that Cheniere's carriers were powered by was reportedly LNG boiloff that would have been wasted if it were not used to power the carriers."
Wyden emphasized this point by adding, "If Cheniere’s carriers are in fact 'motorboats,' then the Titanic was a dinghy."
The Oregon Democrat said the IRS' decision to grant Cheniere this tax credit was "extremely troubling" given that the gas giant "was among the oil and gas companies then-candidate [Donald] Trump promised to give a free hand in rulemaking" during the 2024 presidential election campaign.
Wyden then demanded that Cheniere provide him a copy of the closing letter the IRS sent to the firm following its review of the alternative fuel tax credit claim; a list of each carrier, complete with the carrier's length and displacement, that Cheniere has designated as a "motorboat"; and an explanation for "how $370 million in alternative fuel costs was calculated for the periods 2018 to 2024."
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Sen. Ron Wyden is calling foul over a $370 million tax break that the Trump administration recently gave to Texas-based gas company Cheniere Energy.
In a letter to Cheniere CEO Jack Fusco, Wyden (D-Ore.) demanded more information from the company about the windfall it received after the Internal Revenue Service (IRS) signed off on what the senator described as a "novel and highly questionable tax position."
According to Wyden, the IRS determined Cheniere was eligible to receive the Section 6426 credit—intended to incentivize the use of "alcohol fuel, biodiesel, and alternative fuel mixtures"—which the energy company said it used to power its liquified natural gas (LNG) transport carriers.
Taking advantage of the tax credit in this manner, Wyden argued, is a complete distortion of what it was intended to accomplish.
"The alternative fuel tax credit that Cheniere claimed is for alternative fuel mixtures in 'motorboats,'" wrote Wyden. "'Motorboat' is defined elsewhere in federal regulations as a vessel '65 feet in length or less.' LNG carriers are closer to one thousand feet in length, and the 'alternative fuel' that Cheniere's carriers were powered by was reportedly LNG boiloff that would have been wasted if it were not used to power the carriers."
Wyden emphasized this point by adding, "If Cheniere’s carriers are in fact 'motorboats,' then the Titanic was a dinghy."
The Oregon Democrat said the IRS' decision to grant Cheniere this tax credit was "extremely troubling" given that the gas giant "was among the oil and gas companies then-candidate [Donald] Trump promised to give a free hand in rulemaking" during the 2024 presidential election campaign.
Wyden then demanded that Cheniere provide him a copy of the closing letter the IRS sent to the firm following its review of the alternative fuel tax credit claim; a list of each carrier, complete with the carrier's length and displacement, that Cheniere has designated as a "motorboat"; and an explanation for "how $370 million in alternative fuel costs was calculated for the periods 2018 to 2024."
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- 'This Is Welfare for Billionaire Tax Cheats': Trump IRS Ditches Effort to Close Major Loophole ›
- Ellison Takeover of CBS ‘Unquestionably Aided’ White House Epstein Cover-Up: Democratic Senator | Common Dreams ›
Sen. Ron Wyden is calling foul over a $370 million tax break that the Trump administration recently gave to Texas-based gas company Cheniere Energy.
In a letter to Cheniere CEO Jack Fusco, Wyden (D-Ore.) demanded more information from the company about the windfall it received after the Internal Revenue Service (IRS) signed off on what the senator described as a "novel and highly questionable tax position."
According to Wyden, the IRS determined Cheniere was eligible to receive the Section 6426 credit—intended to incentivize the use of "alcohol fuel, biodiesel, and alternative fuel mixtures"—which the energy company said it used to power its liquified natural gas (LNG) transport carriers.
Taking advantage of the tax credit in this manner, Wyden argued, is a complete distortion of what it was intended to accomplish.
"The alternative fuel tax credit that Cheniere claimed is for alternative fuel mixtures in 'motorboats,'" wrote Wyden. "'Motorboat' is defined elsewhere in federal regulations as a vessel '65 feet in length or less.' LNG carriers are closer to one thousand feet in length, and the 'alternative fuel' that Cheniere's carriers were powered by was reportedly LNG boiloff that would have been wasted if it were not used to power the carriers."
Wyden emphasized this point by adding, "If Cheniere’s carriers are in fact 'motorboats,' then the Titanic was a dinghy."
The Oregon Democrat said the IRS' decision to grant Cheniere this tax credit was "extremely troubling" given that the gas giant "was among the oil and gas companies then-candidate [Donald] Trump promised to give a free hand in rulemaking" during the 2024 presidential election campaign.
Wyden then demanded that Cheniere provide him a copy of the closing letter the IRS sent to the firm following its review of the alternative fuel tax credit claim; a list of each carrier, complete with the carrier's length and displacement, that Cheniere has designated as a "motorboat"; and an explanation for "how $370 million in alternative fuel costs was calculated for the periods 2018 to 2024."
- 'The Clown Show Continues': Billy Long Out at IRS, But Probe to Persist ›
- Citing 'Dubious' Practices and Possible White House Interference, Schumer and Wyden Demand IG Probe Into IRS Trump Audit ›
- 'This Is Welfare for Billionaire Tax Cheats': Trump IRS Ditches Effort to Close Major Loophole ›
- Ellison Takeover of CBS ‘Unquestionably Aided’ White House Epstein Cover-Up: Democratic Senator | Common Dreams ›