Tags: Trump Administration | Trump Tax Reform | coal | ceo | senate | tax plan | wipes out

Coal CEO: Senate Tax Plan 'Wipes Out Everything Trump Has Done' for Us

Image: Coal CEO: Senate Tax Plan 'Wipes Out Everything Trump Has Done' for Us
Coal CEO Robert Murray (AP)

By    |   Wednesday, 06 Dec 2017 08:52 AM

Coal CEO Robert Murray said if the Senate's tax plan wins out in conference, thousands of coal mining jobs will be lost, he told CNNMoney on Tuesday.

"We won't have enough cash flow to exist. It wipes us out," the chief of Murray Energy told CNNMoney. "This wipes out everything that President Trump has done for coal."

At issue for coal companies would be a twofold problem: the Alternative Minimum Tax (AMT) stays, new caps on interest payments companies can write off get introduced.

The result: A $60 million tax hike every year for his company, Murray said.

The House bill eliminates the AMT.

Asked if some coal mining companies could go out of business, Murray said, "Most certainly."

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Coal CEO Robert Murray said if the Senate's tax plan wins out in conference, thousands of coal mining jobs will be lost, he told CNNMoney on Tuesday.
coal, ceo, senate, tax plan, wipes out
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2017-52-06
Wednesday, 06 Dec 2017 08:52 AM
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