Today, members of the Virginia State Senate upheld Governor McAuliffe’s vetoes of legislation (Senate Bill 44 and House Bill 298) extending ineffective coal tax credits, meaning these subsidies will sunset as scheduled this summer. In response, Michael Town, executive director of the Virginia League of Conservation Voters, offers this statement:
“First, let’s be clear: these tax credits did nothing to create or maintain jobs in the coal industry. They didn’t even go to miners. This was one of our state’s most wasteful, ineffective programs and the Governor was right to veto it. We are pleased the Senate saw fit to sustain his veto.”
“No one doubts the Virginia coal industry is in serious trouble, but throwing taxpayer dollars at the problem is not a serious solution – at best it’s symbolic, at worst it’s reckless. With this program soon to expire, it’s time for legislators to work toward true economic growth, diversity and stability to bring Southwest Virginia into the New Virginia Economy. The money we’ve thrown into the coalmines could easily be invested in workforce training and education or put to work building the new, clean energy industries of the future.”