Coal Industry May Have to Pay Higher Taxes Under Obama Plan

Platts reported that the coal industry could lose billions in federal tax incentives over the next ten years.

The market news is quoted as saying:

The administration’s proposal is identical to coal incentives cut in its budget last year. The White House is aiming to meet a G-20 climate change agreement from 2009 in which member countries pledged to phase out fossil fuel subsidies.

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