ILTA: The One Big Beautiful Bill & The Bulk Liquid Terminals Industry

The ILTA’s senior director of government affairs, Jay Cruz, examines Trump’s BBB and what it means for storage terminals across North America – and into Europe.

On July 4, 2025, after months of debate and negotiation, US President Donald Trump signed the keystone budgetary bill for his second administration.

Dubbed The One Big Beautiful Bill (BBB), H.R. 1 will have a profound impact both on fossil fuel and clean alternative fuel manufacturing, storage, and utilization.

The enactment of the BBB represents one of the most significant shifts in US energy policy since the Inflation Reduction Act (IRA) of 2022. While the IRA accelerated investment in renewables, electric vehicles, and clean liquid fuels through tax credits and grants, the Big Beautiful Bill reverses this trajectory, cutting or reshaping many clean energy incentives while strongly encouraging oil, gas, and coal production.

And in the middle of these changes to fiscal policy and at the core of the liquid energy supply chain sit terminal companies.

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