End Corporate Welfare For Coal
Twenty-eight years ago, 11,100 Virginians were employed in the coal industry. Today, less than 3,000 jobs remain.
Virginia’s coal production and employment has steadily declined over the past three decades, despite two major tax subsidies created to prop up the failing industry. Over $610 million Virginia taxpayer dollars has been plowed into corporate welfare while coal production continues to plummet and mining jobs disappear. Virginia spent $37.3 million taxpayer dollars on these programs last year, alone.
Governor Terry McAuliffe must veto SB44, a piece of legislation that will extend the tax credits and subsidize bad actors like Alpha Natural Resources.
Alpha Natural Resources—which filed for bankruptcy in August to avoid paying creditors—plans to pay its top executives bonuses worth up to $11.9 million. Meanwhile, Alpha laid off more than 160 coal miners a week before Christmas.
And that’s not all. A January 21 news report informs us that Alpha Natural Resources owes Wise County nearly $1.46 million in unpaid taxes for 2015, with another $1 million owed to Dickenson County.
Contact Governor McAuliffe today, and ask him to veto SB44 which will extend the tax credits.