UPDATE: Gov. Wolf offered a new tax proposal on October 6, 2015. Here is a summary of that plan
Legislative leaders have promised that on Wednesday October 7, they will hold a vote on a major tax increase proposed by Gov. Tom Wolf. This tax hike is different than Gov. Wolf's original budget proposal, but still represents a significant new burden on working families.
Here are four things to know about this vote:
- Wolf’s tax hike represents an increase of more than $1,000 per family of four when fully implemented.
- There are no property tax relief provisions included in this plan.
- The severance tax (net of impact fee reimbursements) represents only 5 percent of new revenue in the first year, and 10 percent in the second year. Despite the talking point of a “tax drillers for education,” most of the new revenue comes from income and sales tax increases—paid directly by working families.
- Wolf’s tax increase would result in the loss of 14,000 total jobs.
Governor Wolf and his special interest allies are already calling lawmakers to pressure them to vote for the budget. They need to hear from you too.