Administration’s Dirt Tax threatens U.S. minerals mining

Posted on November 08, 2011 by Minerals Make Life

As the stalled economy pushes Washington closer to a decision on how to manage America’s wealth of mineral resources, two paths have emerged.

One offers the possibility of increased domestic minerals production and the potential for long-term growth. Through legislation that would assess America’s mineral needs, we can maximize opportunities in mining, one of the few sectors that have consistently added jobs despite the stagnant economy.

The other path is defined by a punitive $1.8 billion tax on mining that would further complicate domestic minerals production. This poorly conceived tax proposed by the administration would penalize American miners for every pound of dirt they move, threatening thousands of high-paying jobs and making U.S. mining less attractive to investors. American businesses would then have no choice but to import more of their mineral raw materials from foreign suppliers—despite the $6.2 trillion worth of key minerals within our borders.

We must ask Washington to choose the established path toward long-term growth over a hastily devised route that carries opportunities overseas.  I invite you to take action and make your voice heard at actformining.org.

To learn more about the Dirt Tax, watch our video “Two Paths for American Mining

 
By Hal Quinn, President and CEO, National Mining Association

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