NOIA Urges Certainty on Offshore Energy Tax Credits

For Immediate Release: Monday, May 12, 2025
NOIA Contact: jwilliams@nullnoia.org

NOIA Urges Certainty on Offshore Energy Tax Credits

Washington, D.C. – National Ocean Industries Association President Erik Milito issued the following statement in regards to the House Ways & Means Committee reconciliation package:

"NOIA continues to support efforts by Congress and the Administration to promote U.S. energy dominance. However, we caution against the premature repeal or phase-out of current tax credits, as such changes risk disrupting vital investments in American manufacturing, infrastructure, ports, shipbuilding, and offshore energy projects nationwide.

"Through a long-term lens—spanning a decade or more—American companies have made substantial investments in offshore energy based on the stability of the current tax framework. Sudden changes to the tax code could inject significant uncertainty, jeopardizing capital allocation, project planning, and job creation across the energy sector and the broader economy.

"As budget reconciliation discussions move forward, we urge a collaborative approach that maintains certainty for businesses that have made meaningful U.S. investments under the existing credit structure. These tax credits provide a meaningful boost to the U.S. in the global competition to meet surging AI-driven energy demand, secure critical mineral supply chains, and revitalize domestic shipbuilding—all while supporting affordability and reliability for American consumers."

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About NOIA
The National Ocean Industries Association (NOIA) represents and advances a dynamic and growing offshore energy industry, providing solutions that support communities and protect our workers, the public and our environment.