November 29 PA Environment Digest now available. Click here to print this Digest.No Severance Tax Causes $70 Million State Budget Shortfall, Pay Raises?
In August Gov. Rendell said he would use $70 million in revenue from a Marcellus Shale natural gas severance tax to help make up for the $280 million shortfall caused by reduced federal appropriations for Medicaid Funding.
Since the severance tax did not pass, the state budget has a $70 million hole which needs to be made up by Gov. Rendell or Gov.-elect Tom Corbett when he takes office January 18.
The Department of Revenue reported state tax collections were down in October and there may be little hope the gap would be made up by increased revenues. Click here to read more…
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