PA State Budget Deal Close, with NO Severance Tax

Yesterday afternoon Pennsylvania Senate Majority Leader Jake Corman told the media that talks on finishing the state budget are “closer than we’ve been in some time.” He also cautioned, “nothing is agreed to until everything is agreed to.” As for a severance tax, Corman said current discussions do not include a severance tax, which is interesting as Corman is one of the traitorous Republican Senators who voted for a severance tax back in July (see Traitorous PA Senate Republicans Pass Severance Tax Bill). Maybe he’s now seen the light? So how will the state raise more revenue to meet its voracious appetite to overspend? Basically from three sources: (1) truck stop slot machines and “mini” casinos; (2) borrowing against future tobacco settlement payments; and (3) new taxes on warehouses. We haven’t 100% dodged the severance tax bullet for this year, but we’d say we’re 99% sure there will be no severance tax as part of the final budget, which is very good news…

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