#PABudget: Severance Tax Dead on Arrival?

Before yesterday’s budget presentation, we reported that House Speaker Mike Turzai received over $50,000 from stakeholders in the industry in the weeks following his promise to kill the severance tax in the 2015-2016 budget.

Minutes after Governor Wolf gave his scolding budget speech, House leadership began promising to kill the tax in the next budget fight:

House Majority Leader Dave Reed, R-Indiana, says the revenues from a 6.5 percent tax won’t come close to balancing the budget.

“The bottom line is it doesn’t bring in any money because natural gas prices are at record lows,” Reed told reporters after the budget address. “We went from a situation last year where the governor proposed a billion dollar severance tax to fund education,… by the end of last year even he admitted his severance tax proposal [would have] only brought in $50 million dollars.”

 

About Sean Kitchen 583 Articles
Assistant Editor of the Raging Chicken Press and living in Harrisburg pursuing journalistic opportunities. You can send tips to SeanKitchen@RagingChickenPress.org and reach me on twitter at @RCPress_Sean!
Contact: Twitter

Be the first to comment

Leave a Reply

Your email address will not be published.


*