U.S. black lung fund will need taxpayer bailout if coal tax falls: GAO

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By Valerie Volcovici WASHINGTON (Reuters) – A federal fund to lend a hand U.S. coal miners disabled via black lung illness will require a multi-billion greenback taxpayer bailout if Congress does not prolong or building up the tax on coal manufacturing that price range it, consistent with a central authority document on Monday. Coal corporations are lately required to pay a $1.10 consistent with ton tax on underground coal manufacturing to finance the federal Black Lung Disability Trust Fund, which can pay clinical and residing bills for eligible miners, however that quantity is scheduled to revert again to the 1977 degree of 50 cents. “With the scheduled 2019 tax charge lower, our average case simulation means that anticipated income will most likely be inadequate to hide mixed black lung receive advantages bills and administrative prices, in addition to debt reimbursement expenditures,” consistent with the document from the non-partisan Government Accountability Office.



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