Guest Post: The Political Disaster that is Gov. Wolf’s PA Severance Tax Proposal

MDN friend Charlie Schliebs, managing director of Stone Pier Capital Advisors in Pittsburgh, sent along a copy of his firm’s latest newsletter yesterday. In it, Charlie has penned a superb article about the PA Gov. Tom Wolf administration’s current disaster with respect to the state budget (and Wolf’s demand for a high severance tax). As MDN reported yesterday, Wolf did something no governor has done for 40 years–he vetoed the entire budget (see PA’s Partisan Gov Wolf Vetoes No-Severance-Tax State Budget). Let’s put Wolf’s veto in perspective. He turned down, wholesale, a balanced budget that raises education funding (for the chil’ren) all while holding the line on tax increases. Instead, Wolf chose to shut down the PA state government. Why? Because he wants a nosebleed high tax on Marcellus Shale drillers to transfer their hard-earned money over to teachers’ unions. It’s sick. Charlie is more of a diplomat than we are and uses nicer words, but make no mistake, he has an iron fist in his velvet editorial glove when it comes to “The Political Disaster that is Gov. Wolf’s PA Severance Tax Proposal”…

Below we have not only Charlie’s most recent Part II article on Wolf’s severance tax, we’re also running his previous Part I titled, “What to Make of Gov. Tom Wolf’s Pennsylvania Severance Tax Proposal?”

Part II:

Part I:

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