Political Quotes

“Mr. Chairman, I reserve the balance of my time. Ms. McCOLLUM. Mr. Chair, I claim the time in opposition to the amendment. The Acting CHAIR. The gentlewoman from Minnesota is recognized for 5 minutes. Ms. McCOLLUM. Mr. Chair, I rise in strong opposition to this amendment which would deny the American public, especially Native Americans, a fair return for the use of their coal resources. The current coal valuation regulations have been in effect since 1989. A lot has happened in the intervening 26 years since these regulations were last updated. It has now been nearly 3 years since it was first reported that coal companies were skirting Federal royalty payments by selling coal to sister companies in order to value exported coal at low domestic prices rather than the much higher prices these sister companies were selling the exported coal for in overseas markets. Now, while there has been a boom for Western coal companies, it has meant the Federal Government and Western States--where we share 50-50 of the royalties--have forgone hundreds of millions of dollars that are rightly due the American people. These coal royalty valuations especially hurt Native Americans who depend on these royalties for their income. The proposed regulations were a response to States such as Wyoming pleading with the Department of the Interior: Do not allow coal producers to create affiliates to reduce the royalties paid. This amendment offers Members a stark contrast.…”