Mining Industry Gets Tax Breaks in Bailout Bill

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Mining Industry Gets Tax Breaks in Bailout Bill

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Posted: 9:36 AM Oct 4, 2008
Last Updated: 9:36 AM Oct 4, 2008
Reporter: The Associated Press

12 comments

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CHARLESTON, W.Va. (AP) -- A mining industry group is praising Congress for including a series of tax breaks for coal in the $700 billion government bailout for the nation's financial industry and a budget measure.

The Washington, D.C.-based National Mining Association says the measure signed into law by President Bush on Friday and the short-term budget bill signed earlier in the week help the coal industry.

The NMA says the legislation extends tax credits for safety equipment and training, coal gasification and advanced electricity projects, carbon dioxide capture and storage, and liquid fuels made from coal. The NMA says Congress also provided more funding for the Department of Defense to test motor fuel made from coal.

The NMA says the provisions will create jobs and make mining safer.

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Posted by: Tonda...sorry on Oct 6, 2008 at 04:09 PM
I was trying to get the pt over to the guy who was saying Dems "hate" coal - I was trying to make him see that BOTH Dems and Repubs voted to bail out the mining industry. He (or she) seemed to be saying that since Dems "hate" coal, they didn't realize or acknowledge that it was BOTH who voted Pro coal. I guess I didn't explain my pt very well but it was late, sorry. All I wanted them to know was that apparently Dems DO NOT hate coal - not enough to say NO to giving them HUGE tax breaks. Also, it was MOSTLY the Dems who sided with Bush in the beginning of this mess. It was mostly Repubs against it the way I understand it. BUT after being threatened by their lobbiests, a lot of Repubs went along too so yeah, it WAS both of them that did it, but more so Dems than Repubs or so I have seen and read about. Sorry my point wasn't made better here what I was trying to make this poster see that Dems apparently dont hate coal enough to vote AGAINST them hope this makes more sense

Posted by: Chris on Oct 6, 2008 at 10:34 AM
Obama and McCain both voted for this, possibly the biggest theft of taxpayers money in history! We and our childrens children will be paying this 700 billion back to the rich.

Posted by: booger on Oct 6, 2008 at 09:40 AM
Coal doesn't just keep the lights on, it's keeps certain people's pockets fat.... Can you guess who?

Posted by: Tonda on Oct 6, 2008 at 06:40 AM
Kaye. I'm sorry but I thought both sides, democrats and republicans voted for this bailout plan?Or and I just dumb? I don't think so!

Posted by: Charlie on Oct 5, 2008 at 10:38 AM
Ladies & gentlemen the coal was going to keep coming with or without any bail out cash ( as long as it is available)but what I don't understand I didn't know the coal companies needed bailed out did you ? How many hard working tax paying family's are going to be able to save their homes, its not to reassuring to people who are losing their home to hear the coal industry got tax breaks. What did they do to drive down prices of gas,utilities,taxes & coast of living? Nothing absolutely nothing.

Posted by: Kaye on Oct 5, 2008 at 09:22 AM
Hey Anon (8:38 10/4)..excuse me but do you think this is about who likes coal & who doesn't? Unless YOU happen to be a billionaire, why aren't YOU outraged at what this story is really about! It's ABOUT the DEMS being on the SIDE of coal dummy! THEY are the ones who sided with Bush on this bailout thing so it's THEM who got this pork FOR the coal companies included in this "bailout" bill. PORK which (if you would read the story) will give Coal co's even MORE tax breaks than they already get So your theory that Dems don't like coal? They sure liked it better than Repubs this time since THEY pushed for this "bailout" bill & all 3 of our wonderful WV delegation voted FOR it. Therefore they were voting FOR coal! Read the article & see what it's really about. Are YOU going to profit by coal cos getting richer? Unless you own one, you're not. The Dems apparently like coal, their MONEY at least so they HELPED them a LOT by voting yes on this thing!

Posted by: Anonymous on Oct 5, 2008 at 07:13 AM
Iam speechless-Sickings me to no end-Remeber To Vote Out These Idiots that voted for this bill in November.

Posted by: Anonymous on Oct 4, 2008 at 08:38 PM
That's right the Democrats don't like coal. WHATEVER. Coal is here to stay stop freaking out.

Posted by: Maynard on Oct 4, 2008 at 07:25 PM
As always the taxpayer bails out private corporations and who gets the taxbreaks? It isn't the working man.

Posted by: Crystal on Oct 4, 2008 at 11:25 AM
yeah, who needs us little peons out here and our votes when all of them on Capitol Hill and in the WH (this one & whichever one of the useless candidates win in Nov)have these mega-rich jerks and companies putting them into office! They don't even need to worry about our little useless support and votes so why should they worry for a second about not representing us! What a "democracy". What a JOKE!

Posted by: Wow! Amazing! on Oct 4, 2008 at 11:19 AM
Oh but of COURSE!!!! As if THIS surprises us! Lets see: so far we know that NASCAR; Hollywood; and now coal has raked in millions from this "bailout" as well as Wall St; CEOS; investment banks etc. No WONDER Bush was in such a hurry to sign this "important" bill! AND no wonder that our 3 WONDERFUL "reps", Byrd, Jay and Rahall were eager to sign off Any of you out there who STILL are delusional enough to think this bill was EVER about helping Mainstreet and normal Americans?

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