Murray: West Virginia Ruling Out Coal Break 'Unconscionable'
Murray Energy says West Virginia lawmakers have "abandoned our coal miners" by killing a bigger break for struggling coal companies.
Murray spokesman Gary Broadbent's comments came after a House panel opted Wednesday only to study severance tax cuts.
Lawmakers had considered a tax break from 5 to 4 percent in July 2017, and 3 percent in July 2018. Gov. Earl Ray Tomblin's administration estimated more than a $100 million cost annually. The state faces a $466 million budget gap in 2017 largely caused by falling coal and natural gas tax revenues.
Broadbent called the bill's demise "unconscionable" when the state has $784 million in reserves.
Tomblin already signed a bill dropping a 56-cent-per-ton coal surtax, worth $51.5 million in the 2017 budget. It has helped pay a workers' compensation debt for years.