Local Coal Tycoon Opposes Tax Reform Bill

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Tax reform is a major topic across the nation and a local coal tycoon is weighing in on the republican plan.

Robert Murray, CEO of Murray Energy Corporation, is vehemently opposed to the Senate version of the tax reform bill.

He said it punishes all companies that are highly leveraged and capital intensive, as his company is.

In fact, he said if the Senate version goes through, Murray Energy’s taxes would be increased by 60 million dollars a year, and he says that would be disastrous.

CEO, Murray Energy, Robert Murray said, “If we were unable to carry that load, that would be the elimination of 65,000 jobs in the United States in our company alone, as we have 6,000 active employees and Penn State says for every job we have in the mines, there’s up to 11 additional jobs created. So this tax reform in the United States Senate is a disaster.”

Murray said he has spoken personally to some lawmakers, and he’s confident it will be changed now that it’s in conference.

He said the House version would be okay, so he’s hoping the Senate will adopt the House Bill’s language instead.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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