TCS Applauds Hinchey Amendment Securing Royalty Reforms in Mining Legislation
Washington, DC -- The following is a written statement by Ms. Ryan Alexander, President of Taxpayers for Common Sense on Rep. Maurice Hinchey’s (D‐NY) amendmentto ensure that legislation to reform the General Mining Law of 1872 includes a 4% royalty on current mining operations on federal land. The amendmentwas adopted by voice vote today during House Natural Resources Committee consideration of H.R. 2262 today.
Rep. Maurice Hinchey (D‐NY) deserves our gratitude for demanding that taxpayers be compensated when mining companies extract precious minerals from our public lands. Because of Rep. Hinchey’s efforts, we are one step closer to mining companies paying their fair share for gold, silver, copper, uranium and other hardrock minerals mined on taxpayer‐owned lands. The Congressional Budget Office estimates that mining companies remove $1 billion worth of minerals from federal lands every year without paying taxpayers so much as a dime in return. After waiting more than a century, taxpayers will finally be receiving their due.
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