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Started By
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Coal CEO: Sentate tax plan "will wipe us out."
Posted on 12/6/17 at 11:42 am
Posted on 12/6/17 at 11:42 am
quote:
"We won't have enough cash flow to exist. It wipes us out," Murray told CNNMoney in an interview on Tuesday.
quote:
For coal companies, it could be a double-whammy. It would preserve the Alternative Minimum Tax (AMT) and impose new limits on the interest payments that businesses can write off. Murray Energy estimates that these changes would raise its tax bill by $60 million per year. Like other coal companies, Murray Energy borrows heavily to pay for its expensive mining operations. The Senate bill would cap the amount of interest payments that can be written off to 30% of a company's income.
And from the Swamp Draining file...
quote:
Auto dealers would also have been harmed by the Senate bill's interest deduction cap. But, after fierce lobbying from auto dealers, the Senate made a last-minute change to the legislation that exempts them from the interest deduction cap.
LINK
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Posted on 12/6/17 at 11:44 am to TejasHorn
Posted on 12/6/17 at 11:44 am to TejasHorn
Isn't this the guy who is suing HBO after John Oliver destroyed him? 
Posted on 12/6/17 at 11:44 am to TejasHorn
Will be addressed in conference. Still, the coal CEO is being dramatic. Corp AMT isn silly but it only accelerates revenues. It does not increase them. It's certainly valuable to the gov. But not some total destruction to the ceos company.
This post was edited on 12/6/17 at 11:46 am
Posted on 12/6/17 at 11:45 am to TejasHorn
So wait, are Libs going to be for this now or not?
Posted on 12/6/17 at 11:46 am to BBONDS25
quote:
the coal CEO is being dramatic
You don't say. Our POTUS should stop pandering to these loons and move forward with alternative forms of energy.
Posted on 12/6/17 at 11:47 am to TejasHorn
Just another way to keep WV natives poor...
Posted on 12/6/17 at 11:50 am to TheHumanTornado
this guy is a big (yuge?) trump supporter, if i recall correctly.
Posted on 12/6/17 at 11:53 am to TejasHorn
CNN reporting on the GOP tax plan as a threat to a coal company is comparable to the Israelis reporting on Iran as a threat to ISIS.
Posted on 12/6/17 at 11:56 am to 9th life
Liberals should be celebrating, right? Where is the "gotcha" y'all are looking for?
Posted on 12/6/17 at 11:58 am to TejasHorn
Well, that’s what happen when lawmakers forget to eliminate the ATM Tax while lowering the base rate to make the two equal. They accidentally eliminated all tax deductions for corporations and replaced them with a flat 20%. I hope they keep it that way.
Posted on 12/6/17 at 11:59 am to BeeFense5
It seems you're incapable of understanding that someone can have conflicting views/feelings at any one time.
I want more investment in renewables and dislike this tax bill. But I also experience schadenfreude like everyone else so I can laugh at this a-hole at the same time.
I want more investment in renewables and dislike this tax bill. But I also experience schadenfreude like everyone else so I can laugh at this a-hole at the same time.
Posted on 12/6/17 at 12:02 pm to GetCocky11
quote:
Isn't this the guy who is suing HBO after John Oliver destroyed him?
Do non stoner, non retards watch John Oliver? He is still a thing?
Posted on 12/6/17 at 12:03 pm to GoCrazyAuburn
quote:
So wait, are Libs going to be for this now or not?
They will wait to see what John Oliver tells them to do.
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