March 12, 2015

Gov. Wolf Presents Legislation To Enact His Budget, Including Severance Tax

Gov. Tom Wolf Wednesday presented a package of legislation to enact his budget proposal that makes investments in education while taking concrete steps toward rebuilding the middle class.
Gov. Wolf’s budget restores cuts to basic education with a four-year commitment to increase funding by $2 billion while cutting property taxes paid by the average homeowner by 50 percent and reducing the total tax burden on average, middle-class families.
Gov. Wolf’s budget also helps grow jobs in Pennsylvania by cutting the corporate net income tax by 50 percent and making strategic investments in job creation through programs like the Made in Pennsylvania manufacturing tax credit.
In order to ensure that we are adequately funding education at all levels, the legislation includes a severance tax on natural gas that will raise new revenue so we can reinvest in classrooms and provide the resources for students to succeed at higher levels.
Pennsylvania is the only major gas-producing state that does not tax oil and natural gas extraction – we’re failing to do so at a time when schools across the commonwealth are struggling.
“Last week, I outlined my gimmick-free budget, and today, I am presenting legislation that corresponds with the vision I laid out,” said Gov. Wolf. “My budget rebuilds the middle class in Pennsylvania starting with three priorities: jobs that pay, schools that teach, and government that works. My plan balances the state budget, cuts taxes to create jobs with good middle-class wages, makes historic investments in education to prepare our kids for the jobs of tomorrow, and reduces the total tax burden on the average middle-class homeowner by incorporating many Republican and Democratic ideas to move Pennsylvania forward.”
The text of these legislative proposals are available so far--
-- Philadelphia Parking Authority Legislation