Testimony to be given by PLAN Executive Director Bob Fulkerson to the Nevada Legislative Joint Committee on Natural Resources on Tuesday February 12, 2013 Mining’s Toxic Legacy Any lingering doubts about mining’s toxic legacy should be dismissed in light of recent actions by federal regulators against Nevada’s gold mining industry. Last month, the Environmental Protection Agency released its annual Toxics Release Inventory (TRI) showing that in 2011, mining counted for 98% of the of 529 million pounds of toxic chemicals that were dumped released into Nevada’s land, water and air. The massive quantities of earth moved for...Read More
Month: February 2013
Nevada Mining Fact Sheet Sweetheart Tax Deals Senate Joint Resolution 15, which passed in the 2011 session, would allow Nevada voters to decide whether mining’s tax loopholes should continue to be chiseled in the stone of the state constitution. Currently legislators have no flexibility and cannot adjust the Net Proceeds on Minerals Tax based on a more equitable tax load compared to our non-extractive industries. S.J.R. 15, would allow the voters to decide whether legislators should have that flexibility. Trans-national mining conglomerates took $8.76 billion in gold from Nevada in 2011, and paid a total of $104 million to the state general fund under the mining tax, an effective tax rate of 1.187%. In 2010, they mined $6.64 billion in gold, and paid $71.7 million in taxes, an effective tax rate of 1.079%. (Nevada Department of Taxation) Mining does pay sales tax and they pay certain property taxes—but not on the value of the mine or their mining claims. Renters, the unemployed, and minimum wage workers also pay sales and property taxes. But gold mining is different, so it should be taxed differently. Once that gold is gone, it’s gone forever. The money will be in Canada and other foreign countries, leaving Nevada with clean up costs and massive pits. Three of the five largest mines in Nevada are foreign-owned. The second largest mine in the world, and the...Read More
Feb 1, 2013 | PLAN Blog |
On Wednesday PLAN hosted a Legislative Town Hall for struggling home owners in Southern Nevada. Our own state happens to be home to one of the highest foreclosure rates in the country. Banks in America have often times (if not always) made the matter even worse. How many times have we heard the stories of underwater homeowners trying to work with their banks to fix their drowning mortgages, only to get the run around. That’s exactly what happened to Elizabeth of Sun Valley native in Northern Nevada. She has been trying to work with her bank since 2009 to...Read More
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