Mining Companies Pay Royalties! Stop Corporate Handouts.
U.S. Senate Majority Leader Harry Reid (D-Nev.) has consistently blocked new legislation on the outdated 1872 mining law. The General Mining Act of 1872 exempts mining companies from paying royalties while they profit from extracting minerals from U.S. public lands—they are taking our minerals without payment! Miners should pay the same 12.5 percent in royalties as oil companies. This would bring hundreds of millions of dollars in new annual revenue. (Grijalva said the new revenue could total as much as $2 billion annually, depending on production.)
Hundreds of millions of dollars into the federal coffers would solve a significant portion of our federal deficit. Instead Reid risks raising taxes for all American citizens as the fiscal cliff looms. Tell Reid to stop supporting corporate handouts. Tell Reid to support U.S. Rep. Raul Grijalva, D-Ariz., and U.S. Sen. Tom Udall, D-N.M in their legislation for revenue raising changes to General Mining Act of 1872.