Baucus, Tester cosponsor plan to boost job opportunities at Stillwater Mining Company

Senators Tout Jobs Potential of Diesel Emissions Reduction Legislation

(Washington D.C.)-  Montana’s U.S. Senators Max Baucus and Jon Tester announced an effort to boost Montana jobs through the bipartisan Diesel Emissions Reduction Act of 2010. Montana-based Stillwater Mining Company produces the palladium and platinum for the diesel emission reducing filters used nationwide for this program. The program has been particularly helpful in Montana by awarding grants to school districts to help retrofit school buses with diesel emission reducing filters.

“This legislation will benefit Montanans because it provides another market for Stillwater Mining Company’s palladium while creating opportunities to promote public safety and health for Montana kids,” said Baucus. “This is a common-sense approach for creating good-paying jobs, protecting the environment and reducing diesel emissions.”

“When we’re talking about a bipartisan plan that has a proven track record of creating jobs right here in Montana, it’s just common sense to keep that effort moving along,” Tester said.  “There’s nobody like the folks at Stillwater Mine with the know-how to take common sense steps to boost Montana’s future economic opportunities.”

Frank McAllister, Chairman & CEO of Stillwater Mining Company says the legislation is good news.

“We appreciate the support Senator Baucus and Senator Tester are providing for the Diesel Emissions Reduction Act of 2010. Stillwater Mining Company recently announced plans for two resource development projects in Montana.  Increasing demand for palladium helps provide job opportunities, economic development activity and sustain production of metals used to reduce diesel and other auto emissions.  Passing the Diesel Emissions Reduction Act can benefit the environment and the economy,” said McAllister.
 
The bill is a five-year reauthorization of the popular 2005 Diesel Emissions Reduction Act (DERA) that established a voluntary national and state-level grant and loan program to reduce diesel emissions.

For every $1 invested in the DERA program, it’s anticipated to yield $13 in health and economic benefits in return. Retrofitting diesel engines provides enormous environmental benefits, yet there are few direct economic incentives for vehicle and equipment owners to do so. The financial incentives provided by DERA support voluntary rather than regulatory efforts to protect public health and help states meet EPA air quality standards.

Senators Baucus and Tester cosponsored DERA 2010 along with 17 Senators from both parties.