Natural Gas Tax Repeal Act

S 4405, the Natural Gas Tax Repeal Act, repeals Section 136 of the Clean Air Act, which previously provided incentives for reducing methane emissions in the natural gas and petroleum industry. This bill directly affects natural gas and oil companies that participated in the methane emissions reduction program under the repealed section. The bill also rescinds any unobligated funds allocated for that program before its enactment. The legislation removes an existing federal incentive program without creating new taxes or regulations.