I'm a bit confused by the timing and what the article states. My understanding that any bill that is not passed in the lame duck session will have to be re-introduced in the next Congress. I doubt there is much movement on this bill in the limited amount of time they have left given that it seems the R's are want only to pass a short term CR that gets them to March and then wait to fight the funding battles once Trump is in.
I haven't read the bill yet, but I do question if the tax credits are available to the fossil fuel industry and thus won't do much for economic diversification or if this is simply a tax give away to the coal and gas industry.
I've seen the criticism on the RECLAIM Act, but that has come mostly from the industry and is usually tied to a "war on coal" rhetoric. That being said, I don't think we criticize the CORE Act on it being an insult and not enough money. But there may very well be other criticisms once Fed Policy and others have had a chance to look at the bill.
Bill Price, Senior Organizing Representative
Sierra Club
Environmental Justice Program
Beyond Coal to Clean Energy Campaign
922 Quarrier Street, Room 206
Charleston, WV 25301
Phone 304-389-8822 (cell)
Email: bill.price@sierraclub.org
"If there's no struggle, there's no progress. Those who profess to favor freedom and yet renounce controversy are people who want crops without plowing the ground..." Frederick Douglass 1817-1895
On Mon, Nov 21, 2016 at 8:58 AM, Nachy Kanfer nachy.kanfer@sierraclub.org wrote:
Hold on that, Jim -- not sure we are great messengers, and anyway I'd like to get a sense from the federal policy team where they recommend we position on the bill.
On Mon, Nov 21, 2016 at 8:55 AM, James Kotcon jkotcon@wvu.edu wrote:
There have been numerous complaints that the PowerPlus Plan is simply not enough money to replace the income miners have had from coal, that it is an insult, etc.
Should we be calling out Capito's bill as an even worse insult?
JBK
*From:* Nachy Kanfer nachy.kanfer@sierraclub.org *Sent:* Monday, November 21, 2016 8:37:24 AM *To:* lyokochi *Cc:* James Kotcon; Bill Price; Bridget Lee; ec@osenergy.org *Subject:* Re: [EC] Capito Introduces CORE Act
Thanks for forwarding, Jim. I'm not very familiar with this bill.
Laura -- yes, Bill has asked her! As have partner organizations.
On Sun, Nov 20, 2016 at 4:49 PM, lyokochi lyokochi@aol.com wrote:
I wonder if anyone has asked her why she won't support the Power Plus Plan?
Sent from my Verizon, Samsung Galaxy smartphone
-------- Original message -------- From: James Kotcon via EC ec@osenergy.org Date: 11/20/16 2:01 PM (GMT-05:00) To: Bill Price bill.price@sierraclub.org, Nachy Kanfer < nachy.kanfer@sierraclub.org>, Bridget Lee bridget.lee@sierraclub.org, ec@osenergy.org Subject: [EC] Capito Introduces CORE Act
How is this related to the ReCLAIM Act? This seems like a pretty low level of funding compared to the Power Plus Plan.
JBK
>>
THE STATE JOURNAL
*Capito introduces coalfield bailout bill*
*By Rusty Marks*
Email <rmarks@statejournal.com?body=http://www.statejournal.com/story/33727377/capito-introduces-coalfield-bailo...
rmarks@statejournal.com <rmarks@statejournal.com?body=http://www.statejournal.com/story/33727377/capito-introduces-coalfield-bailo...
*Posted: Nov 16, 2016 3:15 PM EST *<em class="wnDate">Wednesday, November 16, 2016 3:15 PM EST</em>*Updated: Nov 16, 2016 3:22 PM EST *<em class="wnDate">Wednesday, November 16, 2016 3:22 PM EST</em>
U.S. Sen. Shelley Moore Capito, R-W.Va., has introduced legislation aimed at helping communities in West Virginia and other states facing hardship due to coalfield job losses.
The bill, called the Creating Opportunities for Rural Economies, or CORE Act, has not yet been assigned a bill number, but was introduced by Capito on Wednesday, Nov. 16, 2016. Capito hopes the bill will be taken up when Congress reconvenes following the general election.
The legislation would set aside a percentage of funding from the federal New Markets Tax Credits program to help fund projects to put people back to work in communities hit by losses in the coal industry, according to Capito spokeswoman Ashley Berrang.
“West Virginia and other states facing severe job losses in the coal industry are in dire need of new economic investment," Capito said. "By leveraging the power of the New Markets Tax Credit Program, the CORE Act presents a tremendous opportunity for underserved communities across the country to receive critical funding for projects that will help create new job opportunities, spur business investment, revitalize communities, and strengthen struggling economies.”
According to Berrang, "The New Markets Tax Credit Program was enacted in 2000 to spur investment in low-income regions. The program supports investment in projects such as mixed-use redevelopment projects, health care facilities, manufacturing facilities and direct investments in businesses. Investors receive a 39 percent tax credit over a seven year period in return for investing in these communities."
Berrang said $3.5 billion will be distributed through the tax credit program over the next three years. Capito's bill would set aside 5 percent of that funding for 12 states affected by the loss of coal jobs, which include Alabama, Colorado, Kentucky, Indiana, Illinois, New Mexico, Ohio, Pennsylvania, Texas, Utah, Virginia and West Virginia.
Berrang said West Virginia and other affected states have not taken full advantage of funding available through the tax credit program. "The CORE Act aims to increase the number of projects initiated in West Virginia and other underserved areas," she said.
-- Nachy Kanfer Deputy Director, East Sierra Club Beyond Coal Campaign (614) 625-3894
-- Nachy Kanfer Deputy Director, East Sierra Club Beyond Coal Campaign (614) 625-3894