[Congressional Record (Bound Edition), Volume 145 (1999), Part 12]
[House]
[Page 17747]
[From the U.S. Government Publishing Office, www.gpo.gov]



       CONGRESS SHOULD ENCOURAGE MINERAL DEVELOPMENT, NOT TAX IT

  (Mr. GIBBONS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. GIBBONS. Mr. Speaker, time and time again we have heard the 
opponents of the 1872 mining law come down to the well and state that 
the United States is the only major country which does not charge a 
Federal royalty for mining on government land. These same anti-mining 
critics want to add a 5 to 10 percent tax on all U.S. mineral 
production.
  A recent survey was conducted on 17 major mining countries that 
compete with the United States. These 17 countries account for about 85 
percent of all metal and minerals produced by the free world market 
economy. The average royalty they pay in these 17 countries surveyed 
was just under 1 percent, that is right, less than 1 percent.
  Mr. Speaker, the United States must remain competitive 
internationally, and these proposed changes to the mining law would not 
allow us to do so. The United States is already a net importer of most 
minerals. Why is it that we are so worried about the trade deficit, and 
here we are talking about potential legislation that would render us 
completely dependent upon foreign nations for necessary goods and 
minerals that could be produced right here at home?
  Mr. Speaker, Congress would be wise to encourage mineral development 
to offset the trade deficit and our dependence on foreign countries. In 
the meantime, this would create jobs, thereby increasing tax revenues 
and lowering social costs to the government.

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