A bad plan
The shale gas severance tax is a very ill-considered plan that could directly impact the presence of this important industry in Pennsylvania. I hope that Sen. Scarnati will stand against this tax hike and encourage his fellow Assembly members to do the same.
We have to remember that Pennsylvania is already a high tax place to do business, with the 10th highest tax burden of all states. Those include the highest effective corporate income tax in the world, something that our natural gas producing competitors like Texas and Wyoming don’t have at all.
We cannot afford to further diminish our attractiveness to energy development. This industry has paid almost $2 billion in state and local taxes over the last two years, on top of $600 million in impact fees in the last three years. If we force them away with unreasonable tax increases, that revenue is gone.
I oppose the severance tax. Please, Sen. Scarnati – do the same.