The Legislative Fiscal Bureau released a report Wednesday showing the state could lose approximately $170 million if Wisconsin’s controversial mining law were passed in its current form.
One section of the bill significantly reduces the tax mining companies would have to pay for every ton of iron they extract from $7.03 per ton to less than 3 cents. Any tax revenue is designed to go toward recycling and environmental initiatives around the state.
State Republicans back the mining bill, which aims to streamline the mine permitting process for mining companies, saying it would stimulate the state’s declining northern economy. But state Democrats and Bad River Band tribal leaders challenge the bill because they say it could allow for the creation of an environmentally dangerous mine in an area of the state known for its natural allure.
The Joint Finance Committee will likely vote on the bill Monday and, if passed, the bill would go to both houses of the Legislature for a full vote as soon as Wednesday.
