February 5, 2011
Democrat Joe Manchin of West Virginia has a hard time telling the truth about anything. And he certainly doesn’t hold the traditional ideologies of the Democratic Party. But he has proven one thing to be true; he is deeply embedded with the coal industry.
Recently he claimed the coal industry “doesn’t get a penny of subsidies”. Watch the video below to hear the words coming from his own mouth. I’m not sure what Manchin’s definition of “subsidies” are, but evidently he doesn’t think tax expenditures is a subsidy. If that’s the case, where is that $800 billion-plus in tax expenditures (PDF) each year going? Maybe he doesn’t think tax expenditures is a subsidy.
Here’s a list of coal subsidies equaling about $17 billion over a six-year period as compiled by Think Progress.
Amounts are in millions.
- Credit for Production of Nonconventional Fuels ($14,097)
- Characterizing Coal Royalty Payments as Capital Gains ($986)
- Exclusion of Benefit Payments to Disabled Miners ($438)
- Other-Fuel Excess of Percentage over Cost Depletion ($323)
- Credit for Clean Coal Investment ($186)
- Special Rules for Mining Reclamation Reserves ($159)
- 84-month Amortization Period for Coal Pollution Control ($102)
- Expensing Advanced Mine Safety Equipment ($32)
- Black Lung Disability Trust Fund ($1,035)
In addition the coal industry has enjoyed hundreds of billions through other sources, as well as hundreds of millions in state expenditures. Hardly an industry that stands on its own feet.