March 20, 2017 - The Virginia Coal & Energy Alliance (VCEA) said in a statement today that it is disappointed to learn Governor Terry McAuliffe vetoed a proposed sunset extension of the Coalfield Employment Enhancement Tax Credit and the Coal Employment and Production Incentive Tax Credit.
Both bills (Kilgore HB 2198 and Chafin SB 1470) passed the 2017 Virginia General Assembly with overwhelming bipartisan support.
The VCEA believes the coal tax credits are essential in helping Southwest Virginia’s economy adjust to the decline in coal production, the closure of mines, the loss of hundreds of direct and indirect jobs. These tax credits have also generated vitally important tax revenues for essential infrastructure projects across the region.
While the VECA is disappointed in the Governor’s veto, it remains committed to working with members of the General Assembly and the Executive Branch on this important issue.
The VCEA is an non-profit organization of industries, businesses, educators, and others who have joined together for the purpose of promoting coal/energy and clean coal technologies. VCEA is a non-partisan organization working in the education, grass roots, legislative, regulatory and political arenas advocating for an abundant supply of safe, affordable and dependable energy for all citizens, businesses and industries. Energy independence, security, and competitiveness throughout the Commonwealth of Virginia and around the world serve as the cornerstones of the alliance’s advocacy efforts.