Business association leaders say revenue package will hurt state's competitiveness, increase operating costs

Business association leaders say revenue package will hurt state's competitiveness, increase operating costs

A coalition of Pennsylvania business and economic leaders came together Tuesday to discuss what they believe to be the negative impacts of the Senate-passed revenue package to fund the 2017-2018 state budget 


Much of the conversation focused on the new taxes and higher tax rates proposed for natural gas drillers and consumers in $2 billion revenue package passed by the body in late July.  


The proposal calls for a five percent tax on the gross transaction amount of electric grid virtual financial transactions and a 5.7 percent gross receipts tax to natural gas consumption, provisions that many within the “Anti-Energy Tax Coalition” say will quash any competitive advantage Pennsylvania may have in the energy industry. 

Tuesday, August 8, 2017/Author: Alanna Koll
Categories: News and Views
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