The U.S. Treasury Department is looking into the increased use by companies of the master limited partnership as a business structure, a department spokesperson said on Monday. "We at Treasury are looking into the effects of these transactions on future tax revenues," the spokesperson said."Instances where the tax base may be eroded serve as a reminder of why we need Congress to enact business tax reform that broadens the tax base and lowers tax rates."The Treasury statement, sent in an email, came in answer to questions from Reuters following news that Kinder Morgan Inc , the biggest U.S. pipeline company, will consolidate into a single corporation, folding together its existing organization of several master limited partnerships (MLPs).
Kinder Morgan, Inc. (KMI) owns and manages a diversified portfolio of energy transportation and storage assets. Shares of KMI traded higher by 9.0% or $3.25/share to $39.37. In the past year, the shares have traded as low as $30.81 and as high as $38.30. On average, 5370730 shares of KMI exchange hands on a given day and today's volume is recorded at 139935312.
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