Center for Taxes & Fiscal Responsibility
The Center for Taxes & Fiscal Responsibility works to reduce the size, scope, and “tax-take” of state government; restore the government sector to its proper and limited role in our lives; and make government more open, transparent, and accountable to citizens.
Can you afford to lose the equivalent of a mortgage payment? How about four? Given a possible 188 percent increase in the state income tax rate to pay for Tom Wolf’s education spending plans, these questions could be in Pennsylvanians' futures.
Democratic gubernatorial candidate Tom Wolf has proposed several new spending initiatives and tax code changes, though specific details remain lacking. To give Pennsylvanians a better idea of the impact of these proposals, we conducted an analysis of his two major education funding proposals. We also analyze his personal income tax proposal, the increase in the income tax rate required to pay for his spending plans, and the impact on taxpayers.
October 8, 2014, HARRISBURG, Pa.—A new analysis of gubernatorial candidate Tom Wolf’s “Fresh Start” plan reveals that Wolf’s spending and tax proposals—$4.6 billion in new spending on education alone—would result in a potential 121% increase to the state income tax rate, bringing it to a whopping 6.8 percent. That’s almost an additional $600
Last week, two major bond rating agencies (Fitch and Standards & Poor’s) downgraded Pennsylvania’s debt rating citing poor fiscal health. While this should worry voters—taxpayers will be forced to pay more for state borrowing—it isn’t too late to take our medicine and recover.
Armstrong County farmer Randy Walker worries about the effect of a natural gas severance tax on his royalties and the job market. Mr. Walker’s concerns are well founded. The natural gas industry is facing marketplace challenges that would be exacerbated by a severance tax.
September 16, 2014, HARRISBURG, Pa.—Today, the Senate Finance Committee passed Senate Bill 7, commonly known as the Taxpayer Protection Act (TPA), out of committee, signaling that protecting taxpayers’ pocketbooks is high on lawmakers’ priority lists in the Fall session.
Due to 40 years of government overspending, state and local taxes now cost Pennsylvanians $4,374 per person, equaling 10.3% of resident’s total income. Pennsylvania currently has the 10th highest state and local tax burden in the nation, up from 25th in 1991.
What is the moral argument for government pension reform? These are Dawn Meling's remarks on that topic from the Great Communicator's Tournament in Denver, Colo.
Paul Battista told a Congressional subcommittee last year: “We can now pay a higher family-sustaining wage! We have people working for us that are the primary breadwinners of their household.” But each year, Paul’s family business—and that of countless job creators—is threatened by efforts to bolster school funding by raising business taxes.
Today, credit rating agency Moody’s downgraded Pennsylvania’s general obligation bond rating from Aa2 to Aa3, citing the state’s use of one-time budgetary stop-gap measures and the continued underfunding of public pensions. This marks the third credit downgrade from ratings agencies in as many years.
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Who are We?
The Commonwealth Foundation is Pennsylvania's free-market think tank. The Commonwealth Foundation crafts free-market policies, convinces Pennsylvanians of their benefits, and counters attacks on liberty.