Press Releases...

FOR IMMEDIATE RELEASE                                                            Contact:  Jim Watson

December 3, 2007                                                                               (217) 243-6221

Watson: Funds Used to Bailout Chicago Transit Should Have Gone to Help Monterey Coal Mine

Springfield, IL – Representative Jim Watson (R-Jacksonville) asserted that bond money in a state coal development fund might have helped keep the Monterey No. 1 coal mine open.  The money was instead diverted by the Governor to bailout the CTA and RTA.   

“These funds could have been used to keep the mine open or attract new buyers,” suggested Watson. 

Mine officials stated late last week that 350 employees will lose their jobs when the mine closes on December 31, and 60 employees have already been laid off.  Although ExxonMobil attempted to find a buyer of the Monterey mine all sales talk has fallen through and the mine will close on Dec. 31.

“The Governor transferred over $10 million in money reserved for coal development and alternative energy without oversight from the General Assembly,” stated Watson.  “This is fiscally irresponsible, and sets a dangerous precedent.  Sweeping this fund to prop up a broken transit system in Chicago simply sends the wrong message to Downstate businesses and working families.”

The Governor diverted $10.2 million in coal development and alternative-energy bond funds, $7.4 million for highway construction, and $4.8 million for building projects, all of which instead went to the Chicago and suburban area transportation systems.

"It's not doing much good for coal if the money is going to mass transit in Chicago. The closing of Monterey No. 1 hurts the (coal) industry and it hurts people," he said.

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