“They don’t pay a dime, not a penny for the gold and uranium they remove from public lands,” says Steve Ellis of Taxpayers for Common Sense. “Virtually every other country in world charges a royalty on hard rock minerals. It is absurd that we don’t do this.”
This is a Severe Level Alert! While our administration is dragging oil & gas companies through the wringer for subsidies they receive (at the same time ignoring all other subsidies), this same administration is allowing mining for minerals on Federal land without a single tax being levied. Billions are being made but the miners pay nothing, nada, zero, zip and it’s all courtesy of Harry Reid.
“…Mining entities pay no more than $5 an acre for land from which they extract billions of dollars worth of minerals. By contrast, multinational oil and gas firms are required to competitively bid against one another just for the right to drill on specific leases. Those bids typically pay taxpayers from tens to hundreds of millions of dollars, depending on how much oil a company believes is in the field…” Read about it here: Miners skate on taxes
The Senior Congressional Democrats plan to embarrass the Republicans into taking away oil & gas subsidies according to the NYTimes. Before they do, maybe they should explain their freebies to miners. NYTimes says the Dems will embarrass the Repulicans into taking away oil & gas subsidies