The coal industry in the United States will pay more than $3 billion in taxes this year and will pay out another $3bn in federal benefits as it enters a phase that is expected to bring in an additional $3 trillion in economic activity, according to a new study from the U.N. Framework Convention on Climate Change.
The coal industry employs nearly 9 million Americans, and the tax receipts from its operations are expected to make up more than a quarter of the $16.5 trillion in global CO2 emissions the United Nations has projected in its report “The Clean Power Plan: Emissions Reduction and Climate Action in the 21st Century.”
The tax revenues are expected in the form of a carbon tax, which is set to be announced by President Donald Trump on Tuesday.
The tax revenues from the coal industry will pay for a host of initiatives aimed at reducing carbon emissions and creating jobs.
The coal companies are currently required by the U,S.
EPA to pay a 25% carbon tax on their emissions from coal production and consumption, which was set to increase to 30% in 2020.
The Clean Energy Industries Association, a trade group, estimates that the carbon tax would generate about $5.2 billion in federal funds for coal companies and help the industry pay for other climate-related infrastructure investments.
The U.s. coal sector, which has been growing for decades, is expected take in $1.7 trillion in revenue in 2020, according a separate study from U.n.
Framework on Climate and Energy, an independent research organization.
The study projects that the industry will bring in $2.5 billion in revenue, and another $2 billion will come from its benefits.
The report is based on a report from the Climate Action Tracker, which projects the total revenue of the U.,S.
economy and its coal-dependent industries would be $2 trillion by 2030.
The Clean Energy Industry Association estimates that by 2040, the U.’s coal industry could generate $1 trillion in tax revenue.