Pennsylvania Gov. Wolf, Lawmakers Propose Severance Tax Legislation

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Pennsylvania will obtain billions in new revenue by passing the severance tax legislation. The governor’s office estimated that the state will generate $248.7 million in revenue over the next fiscal year alone. Thus, it could help the state address critical budget needs and keep the current impact fee.

According to State Sen. John Yudishak, the severance tax and permitting reforms in the Senate Bill 1000 are “fair to taxpayers.” The bill “unleashes the full potential of the natural gas industry to create jobs statewide.

On the other hand, State Rep Bernie O’Neill said, “This modest proposal strikes the right balance between asking drillers to pay their fair share and giving them room to grow and continue providing jobs and economic benefits to our state.”

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In addition, O’Neill said the state will use the new revenue to support education, human services, environmental programs and more.

Meanwhile, State Rep. Jake Wheatley said he is always working toward a fair tax policy. He believes that “Pennsylvania shouldn’t be the only gas producing state in the country without a severance tax…” Wheatley is the Democratic Chairman of the House Finance Committee.