General Assembly Set On Passing Severance Tax By October
By: Amy Mearkle
Updated: July 19, 2010
HARRISBURG, PENNSYLVANIA -- Leaders of the General Assembly say they're confident a severance tax on natural gas from the Marcellus Shale will be passed by October 1st.
However, there are some big issues that remain, including what the tax rate will be and how to divide the revenue between state and municipal governments.
Another complication lies in Attorney General Tom Corbett, who has vowed to not impose any new taxes if he's elected governor in November.
That would mean supporters in the state House and Senate would have to work quickly to pass the tax in order to help bridge the projected five-billion-dollar budget deficit.
(Copyright 2010 by VERTEXNews/Newsroom Solutions)
