State Sen. Mark Allen said it was crucial for lawmakers to remember how critical the coal industry is, not only for communities in southeastern Oklahoma, but for the state’s economy as a whole. His comments came following a House member’s criticism of transferable coal tax credits.
“First of all, we need to realize that the coal industry is a fundamental part of our economy. Failing to support coal mining would be devastating to communities throughout southeastern Oklahoma and the many individuals and families who depend on it for their livelihoods. A strong and vibrant coal industry means those families can continue to put food on the table,” said Allen, R-Poteau.
Both the House and Senate have been conducting studies to review the various tax incentives and credits offered by the State of Oklahoma to determine which actually promote job growth and economic development, and look at eliminating those that don’t.
“I believe it is absolutely appropriate to scrutinize programs that may not benefit our economy, including transferrable tax credits. But at the same time, we must remember that we’re all still fighting for Oklahoma’s economic recovery. We must proceed in a thoughtful and responsible manner that recognizes how tax policy impacts families at the most basic level. By supporting our coal industry, we are supporting southeastern Oklahoma,” Allen said.