WASHINGTON, D.C. — Tuesday, Congressman Alex X. Mooney (WV-02), along with 15 members of the U.S. House of Representatives Coal Caucus, signed a letter sent to Treasury Secretary Steven Mnuchin, Federal Reserve Chairman Jerome Powell and Small Business Administration Administrator Carranza in support of the coal industry’s equal access to coronavirus relief funds.
This letter specifically requests that the coal industry be eligible for relief through the Main Street Lending Program (MSLP) and the Paycheck Protection Program (PPP), as was originally intended by Congress through passage of the Coronavirus Aid, Relief and Economic Security (CARES) Act.
This pandemic has devastated the energy industry, resulting in decreased demand, dramatically reduced prices and the loss of jobs. According to the Coal Caucus letter, both coal-fired generation and consumption have declined by 44 percent in a significant portion of the country, and coal prices are down.
“As a member of the Coal Caucus, I’m focused on helping ensure West Virginia’s energy jobs are supported during this time through equal access to coronavirus financial relief. A robust energy sector will fuel our economic recovery,” said Congressman Mooney.