Make Billionaires Pay Act

The 'American LNG First Act of 2026' directly amends Section 12103 and 12112(a)(2)(B) of title 46, United States Code, to exempt vessels transporting liquefied natural gas from coastwise endorsement requirements. This means non-U.S. flagged vessels can transport LNG between U.S. ports, provided they are not owned, flagged, or crewed by Russian or Chinese nationals. This legislative change immediately expands the available fleet for LNG transport, reducing shipping costs and increasing the efficiency of LNG distribution from U.S. production facilities. The bill's referral to the Committee on Transportation and Infrastructure is appropriate given its focus on maritime transport regulations. The money trail for this bill is indirect but significant. By easing shipping restrictions, U.S. LNG producers and exporters will see increased demand and reduced logistical costs. This regulatory relief acts as a subsidy for the entire LNG supply chain, from extraction to liquefaction and transport. Companies like Cheniere Energy ($LNG), Tellurian Inc., and EQT Corporation ($EQT) stand to gain from enhanced export capabilities and potentially higher volumes. Midstream companies involved in pipeline infrastructure and export terminals, such as Kinder Morgan ($KMI), will also benefit from increased throughput. Historically, similar regulatory easing for specific commodities has led to increased market activity. While a direct historical precedent for LNG coastwise exemptions is not readily available, the Jones Act, which this bill partially circumvents for LNG, has been a long-standing point of contention for various industries. Temporary waivers of the Jones Act, often granted during emergencies, have consistently demonstrated a reduction in shipping costs and an increase in commodity flow. For example, after Hurricane Maria in 2017, a temporary Jones Act waiver for Puerto Rico led to a more diverse and cost-effective supply chain for critical goods. This bill provides a permanent, albeit specific, exemption, which will have a sustained positive impact on LNG logistics. Specific winners include Cheniere Energy ($LNG), which operates major LNG export terminals, and Tellurian Inc., which is developing new LNG export projects. EQT Corporation ($EQT), a large natural gas producer, will benefit from increased export demand for its product. Kinder Morgan ($KMI), with its extensive natural gas pipeline network and terminal operations, will see increased utilization. There are no direct losers identified, as the bill primarily removes a regulatory hurdle, expanding options rather than restricting existing ones. The bill was introduced on March 19, 2026, and referred to the Committee on Transportation and Infrastructure. The next steps involve committee hearings and potential markups. If it passes the committee, it will proceed to a House vote. Given the bipartisan sponsorship (Rep. Perry, a Republican, with cosponsors), it has a reasonable chance of advancing. The effective date of the exemption would be upon enactment, providing immediate relief to the LNG sector.