image description

State Lawmakers Fighting Effort To Repeal Coal Tax Credit

February 11th, 2013 by WCBC Radio

State lawmakers from far western Maryland are fighting an effort to repeal a tax credit that rewards electric companies for buying Maryland coal.  Republican Delegate Herb McMillan of Anne Arundel County introduced the bill in the General Assembly and a committee hearing was held last week. The bill same died in committee last year despite support from Gov. Martin O’Malley’s administration. The tax credit is set to expire in 2021. Repealing it before then would increase state revenues by several million dollars a year. The Maryland Coal Association says coal mining employs about 600 people directly and 3,000 more in spinoff jobs. The American Coal Foundation says the direct and indirect effects of coal production pump more than $2 billion a year into Maryland’s economy. The Allegany County Commissioners were among those testifying against the repeal, and the Chamber of Commerce has also notified the committee that the business community opposes it as well. Chamber Director Stu Czapski…





Leave a Reply

 



View Mobile Site