Posted on 01/23/2017 5:24:34 PM PST by 198ml
If the GOP-controlled Legislature goes along with Democrat Gov. Tom Wolf's renewed call for a severance tax, it would be a surefire way to debilitate Pennsylvania's shale-gas industry.
Always a bad idea, a severance tax is an even worse idea this time around — because 2016 saw the industry “shed a third of its jobs” and gas prices are still rebounding “from record lows,” according to the Commonwealth Foundation. The state's own Independent Fiscal Office estimates that Pennsylvania's existing impact fee is the equivalent of a 6.9-percent severance tax — higher than severance taxes in Louisiana, Wyoming and West Virginia.
(Excerpt) Read more at triblive.com ...
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