Washington, March 9 -- Congresswoman Harriet Hageman issued the following press release:
Today, Congresswoman Harriet Hageman (R-WY) introduced legislation to reform bonus bids for coal producers on federal leases designed to cut upfront costs in half.
One of America's most reliable sources of affordable power is now being offered legislative relief after weathering decades of efforts to regulate coal out of business. Rep. Hageman's bill reforms federal bonus bids under the Mineral Leasing Act to bring down the cost of coal production without sacrificing government revenue.
Coal producers on federal land are currently required to make payments on an accelerated schedule of five installments over the immediate first four years following...