Wyoming House Bill Would Cut Coal Taxes
A bill currently before the Wyoming House Revenue Committee would cut the state tax on coal in an effort to help that industry as it continues to struggle. House Bill 104 would cut the state severance tax on coal from 7 to 6 percent.
One of the bill's sponsors, Republican Scott Clem of Campbell County, says it would put coal taxes in the state on par with severance taxes on oil and natural gas.
But opponents of the bill point out it would cost the state millions of dollars in lost revenues at a time when Wyoming is already having a hard time finding the money needed to pay for services and programs. Some estimates put the revenue loss to the state in the range of $28-$30 million dollars in 2018 if HB 104 were to become law.
Clem and other supporters of the measure say the benefits to the struggling state coal industry are worth the lost revenues, especially since coal is currently taxes at a higher rate than other fossil fuels produced in Wyoming.