The Briefing Room
General Category => Economy/Business => Topic started by: thackney on February 04, 2019, 02:10:11 pm
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Pennsylvania governor seeks natural gas tax to raise $4.5 billion
https://www.reuters.com/article/us-usa-pennsylvania-natgas-tax/pennsylvania-governor-seeks-natural-gas-tax-to-raise-4-5-billion-idUSKCN1PP2UR (https://www.reuters.com/article/us-usa-pennsylvania-natgas-tax/pennsylvania-governor-seeks-natural-gas-tax-to-raise-4-5-billion-idUSKCN1PP2UR)
JANUARY 31, 2019
Pennsylvania Governor Tom Wolf on Thursday proposed a tax on extracting natural gas to pay for his plan to spend $4.5 billion over the next four years to improve the state’s infrastructure.
The state legislature, however, has refused to approve the tax over the past couple of years.
Wolf said Pennsylvania is the only state in the country without a severance tax on extracting natural gas.
Pennsylvania is the second biggest gas-producing state behind Texas. The state produces about 18 billion cubic feet per day (bcfd) from the Marcellus and Utica shale basins, which is a little over 20 percent of nation’s total gas production....
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Of course he is. This is what PA Govs do. Corbett, a Republican, raised the gas tax along with help from the GOP controlled congress because we needed infrastructure money. Made our gas some of the most expensive in the country. Roads and bridges haven's been in worse shape. Now this guy is going to raise more taxes for the same problem.
You may be wondering where all this tax revenue goes if it isn't fixing roads and bridges? The state is drowning in unfunded liabilities.
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I think the Commonwealth of Pennsylvania needs to change its moniker from the KEYSTONE STATE to the TAX STATE.
Pennsylvania is corrupt as they come. When the legislation was passed to allow casinos in PA, it was on the promise to greatly reduce property taxes, particularly for senior citizens, which PA is loaded with. So, how much have property taxes been reduced in the 15 or so years casinos have been in operation? If you guessed a big fat ZERO, you would be right. And the state has a 52% take on every dollar at the casinos, which is crazy. Adjoining states, i.e. WV and NJ are at I believe 14 and 21%.
The spending is way out of control, and both parties are at fault.
If Wolf got this tax implemented, he would want something else next year too. It just does not end.
Worst of all, PA has one of if not the largest legislatures in the nation. They need to curb the spending by reducing their numbers. My advice is that they use Nebraska as a model, for they are a fraction of the spending that PA is for those that run the government into the ground.
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“With every passing year our state is losing out on the opportunity to reinvest the benefits of these resources to stimulate out economy and move Pennsylvania forward,†Wolf said.
A perfect Democrat talking point to raise taxes.
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I think the Commonwealth of Pennsylvania needs to change its moniker from the KEYSTONE STATE to the TAX STATE.
Pennsylvania is corrupt as they come. When the legislation was passed to allow casinos in PA, it was on the promise to greatly reduce property taxes, particularly for senior citizens, which PA is loaded with. So, how much have property taxes been reduced in the 15 or so years casinos have been in operation? If you guessed a big fat ZERO, you would be right. And the state has a 52% take on every dollar at the casinos, which is crazy. Adjoining states, i.e. WV and NJ are at I believe 14 and 21%.
The spending is way out of control, and both parties are at fault.
If Wolf got this tax implemented, he would want something else next year too. It just does not end.
Worst of all, PA has one of if not the largest legislatures in the nation. They need to curb the spending by reducing their numbers. My advice is that they use Nebraska as a model, for they are a fraction of the spending that PA is for those that run the government into the ground.
Here's the problem. PA is a dying state. There is little to no reason to live here. The weather sucks, the roads suck and the people suck. We have cities filled with dead beat welfare queens and the country side loaded with geriatrics. These two groups demand a shit pile of gimmies. Add to that all the retired state workers sucking on the system there is no way to go but down. The moment my kid hits the graduation line for HS there will be a For Sale sign going in my front yard.
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Here's the problem. PA is a dying state. There is little to no reason to live here. The weather sucks, the roads suck and the people suck. We have cities filled with dead beat welfare queens and the country side loaded with geriatrics. These two groups demand a shit pile of gimmies. Add to that all the retired state workers sucking on the system there is no way to go but down. The moment my kid hits the graduation line for HS there will be a For Sale sign going in my front yard.
I have a sister-in-law who is a realtor in Texas who can handle the arrangements on this end, Frank.
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The moment my kid hits the graduation line for HS there will be a For Sale sign going in my front yard.
and go where?
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and go where?
I would suggest Guam. To see if Frank' s mass alone would cause it to flip over. :pondering:
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Ambassador Frank wrote:
"Here's the problem. PA is a dying state. There is little to no reason to live here."
Heh. You ought to try Connecticut, Frank.
By comparison, places like Potter, Tioga and Bradford counties up in north/central PA look like heaven to me.
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and go where?
Florida with the rest of the North-easterners..... right @RoosGirl
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Florida with the rest of the North-easterners..... right @RoosGirl
NIMBY
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What might not be obvious is that the proposed severance tax will apply to not just natural gas producers but to each and every royalty owner in the state. There are tens of thousands of citizens who receive royalty income will be taxed.
And, of course, all of the producer's taxes increased will ultimately be passed along to the consumer, who is always the one who pays the taxes in the end.
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Of course he is. This is what PA Govs do. Corbett, a Republican, raised the gas tax along with help from the GOP controlled congress because we needed infrastructure money. Made our gas some of the most expensive in the country. Roads and bridges haven's been in worse shape. Now this guy is going to raise more taxes for the same problem.
You may be wondering where all this tax revenue goes if it isn't fixing roads and bridges? The state is drowning in unfunded liabilities.
Wrong kind of Gas, Frank. This is an extraction tax on produced natural gas, not a gasoline tax.
Most, if not all, of the other oil and gas producing States have them, and in North Dakota, for instance, the extraction tax is a big chunk of the State budget (almost half of the total tax revenue).
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I think the Commonwealth of Pennsylvania needs to change its moniker from the KEYSTONE STATE to the TAX STATE.
Pennsylvania is corrupt as they come. When the legislation was passed to allow casinos in PA, it was on the promise to greatly reduce property taxes, particularly for senior citizens, which PA is loaded with. So, how much have property taxes been reduced in the 15 or so years casinos have been in operation? If you guessed a big fat ZERO, you would be right. And the state has a 52% take on every dollar at the casinos, which is crazy. Adjoining states, i.e. WV and NJ are at I believe 14 and 21%.
The spending is way out of control, and both parties are at fault.
If Wolf got this tax implemented, he would want something else next year too. It just does not end.
Worst of all, PA has one of if not the largest legislatures in the nation. They need to curb the spending by reducing their numbers. My advice is that they use Nebraska as a model, for they are a fraction of the spending that PA is for those that run the government into the ground.
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My brother used to say the state motto is "Pennsylvania -- Land of Taxes."
You are correct that politicians from both parties never met a tax they didn't like. The current Democrat Governor Wolf has been chomping at the bit for several years now to extort taxes from the NG producers. Before him, Republican Governor Corbett raised the gas tax. Taxes, taxes, taxes and nothing to show for them.
Perhaps I wouldn't mind it so much if the revenue actually went where it's supposed to go -- in this case, fixing our deteriorating roads and bridges. But we Pennsylvanians know that any time a tax in this stare is implemented or raised, the money goes down the rabbit hole. If Wolf gets his NG tax today, you can be sure tomorrow he will be looking for more. And we the citizens are supposed to accept that the state needs the money. How about an audit to tell us where the money already raised has gone? But no one wants that. We serfs might find out the money has gone to someone's pocket.
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Florida with the rest of the North-easterners..... right @RoosGirl
I hope all those NorEasterners go to Florida. The weather is good there.
And it keeps them out of Texas.
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I hope all those NorEasterners go to Florida. The weather is good there.
And it keeps them out of Texas.
Listen, you. I'm not above shooting bald eagles just because they're our national bird.
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Wrong kind of Gas, Frank. This is an extraction tax on produced natural gas, not a gasoline tax.
Most, if not all, of the other oil and gas producing States have them, and in North Dakota, for instance, the extraction tax is a big chunk of the State budget (almost half of the total tax revenue).
I know exactly what it is and you can tell that if you bothered reading what I wrote. I live here. This is totally like the other gas tax in that the revenues are for infrastructure and roads......again. It's the same argument they used for the gas tax hike through the roof. These revenues will never will one pot hole. They will be transferred over to unfunded liabilities and then in a couple years these azzholes will be taxing methane gas from people at burrito stands to they can raise money for roads and infrastructure.....again. That money will also go to unfunded liabilities.
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I hope all those NorEasterners go to Florida. The weather is good there.
And it keeps them out of Texas.
Why the hell would anyone want to move to New Mexifornia?
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I know exactly what it is and you can tell that if you bothered reading what I wrote. I live here. This is totally like the other gas tax in that the revenues are for infrastructure and roads......again. It's the same argument they used for the gas tax hike through the roof. These revenues will never will one pot hole. They will be transferred over to unfunded liabilities and then in a couple years these azzholes will be taxing methane gas from people at burrito stands to they can raise money for roads and infrastructure.....again. That money will also go to unfunded liabilities.
Well, y'all need to vote some bastards out.
We have a petroleum extraction tax in North Dakota, and it funds a big chunk of the Staate budget, has made some major infrastructure improvements in the Oil and gas producing counties (which especially needed it), and elsewhere in the State. Fire Departments have upgraded equipment, even the police have what they need--and taxes were cut for the ordinary taxpayer.
It has been a good deal here, and the legislature just voted down an increase.
Y'all need some different people in office.
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Well, y'all need to vote some bastards out.
Never happen. The state is flat broke. We are close to Illinois type broke because of all the state pensions and the fact that it is a dying state. The gasoline tax was passed by a GOP Gov and GOP controlled legislature. Add to that the power that Philthy and Pitt have to override the T part of the state the only option is to get the eff out and let the deadbeats left all sink together under their own worthless weight.
Then again there could be a disease that kills everyone over age 65 that would hit the state. That might give the state a shot at a turn around.
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Well, y'all need to vote some bastards out.
We have a petroleum extraction tax in North Dakota, and it funds a big chunk of the Staate budget, has made some major infrastructure improvements in the Oil and gas producing counties (which especially needed it), and elsewhere in the State. Fire Departments have upgraded equipment, even the police have what they need--and taxes were cut for the ordinary taxpayer.
It has been a good deal here, and the legislature just voted down an increase.
Y'all need some different people in office.
Yes, but who? Like I said, Republicans and Democrats are exactly the same here. And all the unions have a stranglehold over the state. They control both parties and any candidate without union support is toast.
Corruption runs deep in PA. No one will stand up and fight. Too risky for one's well being and that of his loved ones.
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and go where?
Who cares, as long as he stays away from Texas. :cool: