Manchin-Biden Kills Coal

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Unleash Prosperity Hotline
Issue #590
08/04/2022
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1) Manchin-Biden Kills Coal

The West Virginia Coal Association has blasted the Inflation Resumption Act as a dagger in the heart of Manchin’s own home-state industry. The letter is signed by heads of coal industry groups in Kentucky, Ohio, Pennsylvania, and Illinois. We count FIVE Democratic senators from these states all of whom favor this bill.

Here is the letter:

This legislation is so egregious, it leaves those of us that call Senator Manchin a friend, shocked and disheartened.

The Schumer-Manchin bill doubles the current tax on coal and subjects mining companies to the highest tax of any other American business effectively costing mining companies tens of millions of dollars in new taxes and adding to the complexities of keeping state fuel and household energy costs stable and competitive. More disturbing, the Schumer-Manchin proposal provides President Biden's EPA with the clear and unbridled ability and expanded budget to regulate greenhouse gases and state coal assets however they deem appropriate or in the most punitive manner possible.

The language in this proposal has predictably already received a glorious "Thank you Joe" from Biden's climate Czar John Kerry and current EPA cabinet officials for removing the critical underpinnings of the recent decision victory in West Virginia v. USEPA before the U.S. Supreme Court that was championed by West Virginia Attorney General Patrick Morrisey in June.

Why support anything Chuck Schumer, Joe Biden, Nancy Pelosi or John Kerry want for coal? It is incomprehensible why any miner would support the Manchin-Schumer legislation which will not only put an immediate stop to the investment and financing behind our states coal and electric generating assets but forever foreclose on America's coal industry!

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2) Prove It: Sen. Capito Challenges House To Pass Permitting First
Unlike her colleague Mr. Manchin, West Virginia Senator Shelley Moore Capito understands that a promise from Nancy Peloso to do permitting reform after the Senate passes reconciliation is worth zilcho.

She has a simple suggestion: the House should prove Manchin's deal is real by going first and passing permitting reform. If they won't, we have prima facie evidence that the permitting that Manchin is boasting about is a hoax.

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3) Heads Up Kyrsten Sinema: Arizona Manufacturers Hate The Bill
Word in Washington is that Senator Sinema has serious reservations about the corporate minimum tax which raises half of its revenues from manufacturers. We pray she does the heroic thing and kills this horrid bill altogether, but at the very least she should make sure that manufacturers don’t get crushed by the corporate minimum tax tomorrow.

She (and Senator Mark Kelly of AZ) should listen to the manufacturers in their own backyard.

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4) Speaking Of A Democrat Out Of Touch With His Constituents
Another key “moderate” Democrat is Sen. Jon Tester of Montana. Montana is a state that Trump carried easily in 2020 and has major coal and energy resources that the Manchin bill would close down.

We suspect that Tester’s allegiances lie with the Democrats in Washington, not the workers of Montana.

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5) Europe Embraces Nuclear; When Will U.S. Follow?
While the U.S. is debating a gigantic increase in subsidies for wind, solar and electric cars, Europe is slowly but surely discovering the benefits of nuclear power.

German Chancellor Olaf Scholz has done a U-turn and announced it “makes sense to continue" running the country’s three nuclear plants after their scheduled December 31 shutdown.

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A decision to keep the nuclear plants, which provide 6 percent of Germany’s electricity, goes against the ideology of the Green Party, a member of Scholz’s government. But polls show Green voters are changing their minds as prospects of energy rationing this winter loom.

Meanwhile, the Dutch are preparing plans to build new nuclear plants. Prime Minister Mark Rutte won re-election last year on the pledge to “take the necessary steps for the construction of two new nuclear power plants.”

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When will the U.S. follow the European example and revisit its refusal to embrace nuclear power?

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6) Take That!

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