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Virginia House passes bill ending coal tax credits

RICHMOND, Va. (AP) — The Virginia House passed a bill Monday that would phase out two costly coal tax credits that a state investigation recently found generate economic losses for the state.

On a 54-45 vote, the chamber approved the measure from Del. Sally Hudson. The bill still must pass the Senate before it can go to the governor.

A similar measure being sponsored by a Democratic senator hasn’t yet received a vote.

The incentives are designed to encourage coal production and coal use, and aid the struggling economy of southwest Virginia. A report last year from the state’s legislative watchdog agency found that they have created a net loss for the state.

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Filling out the Free Application for Federal Student Aid, or FAFSA, which opens by Dec. 31, is one of the most important steps students and their families can take to pay for college. Some states now make completing the FAFSA a high school graduation requirement. The U.S. Department of Education awarded about $111.6 billion in federal grants, loans and work-study funds in fiscal year 2022, according to the most recent Federal Student Aid annual report. Those federal funds will assist roughly 9.8 million students in completing their education.
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