Murray Energy CEO says GOP tax policy will cost him $60 million a year

CNBC| Mon Dec 04 13:24:08 EST 2017
The Senate's tax overhaul bill is a "huge tax increase" on certain businesses, said Robert Murray, chairman and CEO of coal giant Murray Energy. Murray, who has been a big supporter of President Donald Trump, told CNBC he's specifically upset about the decisions to keep the alternative minimum tax and to take away the deduction for net interest expense as a cost of business. He said the Senate legislation will raise Murray Energy's taxes by $60 million a year, "notwithstanding the other so-called benefits the Senate has proposed." "This means that very capital-intensive, highly leveraged employers, like coal-mining companies, will be forced out of business, with tragic consequences for our f..

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