This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Wis. GOP Begins Mining Bill Push With Hearing

By TODD RICHMOND

MADISON, Wis. (AP) â¿¿ A lobbyist for a company looking to open a giant iron mine near Lake Superior promised Wednesday it would return to Wisconsin and hire residents if legislators pass a bill easing the regulatory path.

Gogebic Taconite lobbyist Bob Seitz told lawmakers during a public hearing that the company intends to return to Wisconsin if the bill passes. Seitz acknowledged the company may hire some out-of-state workers with specialized expertise but would hire from within the state as well. He said Wisconsin workers are committed to their homes and can handle the harsh winters, making it more likely they'll stay with their jobs.

"What do people think is wrong with Wisconsin workers?" Seitz said. "I don't know why we wouldn't stick with the workers we have here."

Republicans looking to deliver on job creation promises have been working for months to overhaul regulations to help Gogebic Taconite kick-start the mine, which would straddle the border between Ashland and Iron counties. The company has promised the mine would create thousands of jobs. Environmentalists contend the project would devastate one of the last pristine areas in the state.

The GOP introduced a sweeping bill last year but it failed by one vote in the Senate, prompting Gogebic Taconite to pull out and start exploring Michigan's Upper Peninsula. Republicans introduced essentially the same bill last week, insisting the measure upholds environmental standards and would lead to thousands of jobs.

Republicans won another majority in the Assembly and a larger edge in the Senate in the November elections. With Republican Gov. Scott Walker still in office, it's all but certain some form of the bill will pass this time.

The Senate and Assembly mining committees launched the drive toward passage with Wednesday's public hearing. The committees weren't scheduled to vote, but supporters and opponents still spent all day sparring about jobs and environmental ruin.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs