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Wednesday, July 26, 2017

Senator Vincent Hughes: Wealthy Shale Gas Drillers Must Pay Fair Share

Wealthy Shale Gas Drillers Must Pay Fair Share

Most businesses in Pennsylvania pay their fair share in taxes that help sustain Pennsylvania. However, one particular industry has been profiting from our abundant natural resources without giving back.
Sen. Hughes discusses the need for the natural gas drilling
industry to pay their fair share.

Natural gas drilling companies should not be able to profit from our natural resources and not pay their fair share, and hard-working Pennsylvanians should not place second to special interests.

The best option for new revenue to create jobs, appropriately fund our schools, and provide tax fairness is a severance tax on Marcellus Shale natural gas extraction, which would bring in hundreds of millions of dollars and ensure that wealthy drillers finally pay their fair share.

We’ve already lost out on significant revenues. If Pennsylvania had enacted a fair 5 percent severance tax between 2011 and 2016, we could have realized an $1.2 billion.

Fund Schools - Tax ShaleThe Pennsylvania Independent Fiscal Office, in its April 2017 report, predicted that a reasonable 6.5 percent tax on gas extraction would raise the following:

$349 million in Fiscal Year 2017-18
$712 million in 2018-19
$755 million in 2019-20
$931 million in 2020-21
$1.5 billion in 2021-22

Two-thirds of Pennsylvanians support a natural gas extraction tax, according to polls.


Anonymous said...

It's way past time that these multi millionaire drilling company finally take the responsibility for what the have done to our area, Potter County. Why shouldn't they compensate us for their greedy moves to drill and run, do something to change this fiasco as soon as possible. When the earth quakes, polluted water and all other damage comes to Light, at least they will be responsible in some way, say their pockets, for a change. How did it get this far. Not one drilling procedure should have been started without complete responsibility financially to our communities!

Billy bob said...

This tax would be a short term solution to the problem. Soon as all the oil and gas companies leave we will be back to the square one. This problem will only be fixed when we start holding government officials accountable on how they spend our tax money. Sure the oiled gas companies should pay there share but we need to do more then just that.

Anonymous said...

This bird[hughes] must be up for reelection this year. Check his voting record, it speaks for itself. Amongst other things, ask the NRA what they think about him?

Simple Simon said...

what you narrow minded people don't understand is that the drillers will now factor this added tax into the cost of drilling and the gas transmission companies will have to pay more for access to gas and will then factor that into an increase in the price to the consumer. Who wins in the end? The state gets more money to waste and John Q Public pays more for gas to cook with and heat his house. These tax increases don't affect the companies at all!! It's simple economics and has always been this way and will always be this way because our worthless government is greedy.

Anonymous said...

They do compensate you. Act 13 is an impact fee that is placed on the drilling companies and then given back to the municipalities from the PUC for the impact they have. A severance tax would go straight to Harrisburg to the General Fund. Where do you think it will go after that? I'll give you a hint, it starts with 'P' and ends in 'hiladephia'.

Anonymous said...

Drill baby drill Make America Great Again.

Anonymous said...

Typical liberal ! Tax em hard ! The trouble is they never use the money for what they say it is for ! Hughes is a liar period !

Anonymous said...

This is Socialism!

Anonymous said...

Just think when our water supply is polluted we can drink trump spring water freshly shipped in from china

Anonymous said...

Why would anyone put trumps name in this article? Drilling and fracking are very highly technological industries. The only thing trump knows is slash and burn, ridicule, lie and steal. He knows nothing about the outside world beyond his little circle of lying friends who continue to try to protect him and project some state of normalcy in the White House. They read for him, they interpret the written word and dumb it down so he understands it. Fortunately, these rats are jumping from the sinking ship and Mr. Spicer and Mr. Tillerson are going to make millions when they write a book. It is going to reveal the scam and dysfunction that is being pulled off by the trump family to enrich themselves on the backs of the lower middle class and uneducated voters who were duped by him and the Russians. These same uneducated folks who voted for him are the ones who will lose out on their food stamps, WIC, CDBG money, their Medicaid benefits and sadly, much more. They are the segment of society who needs this help the most and he is going to cut it to try to prop up the coal industry which is now a fading industry. Largely in part to the OIL AND GAS FRACKING INDUSTRY!! Gas is not only better for the environment but cheaper per BTU for the generation of power and other industries that need massive amounts of a heat source. His dimwitteed partner Pence thinks that supply and demand means you make a large supply available and the demand will follow! Probably came right out of the trump playbook I'm sure. BTW, the renewable energy industry has created 16X more jobs than coal has in the last 2 years. And no, trump cannot claim credit for the metallurgical coal mine that opened 2 months ago. That plan was in effect during Obamas term. Did you see that Carrier industry just laid off 700 people? The same company that trump said he "forced to keep jobs in the US?" Wahh....Wahh...Wahh...Another trump lie. Republican Senators and Congressman, had better start standing up for your country rather than your party, and soon, or they will pay a terrible price in the midterm elections. Bring on the 25th!!

Anonymous said...

Amen. .. His base got screwed and don't realize it yet.