PA Accountants Love Marcellus Severance Tax (and Smoking Pot)
Two accountants walk into a bar….Wait! No. That’s a story for another blog site. Reboot: The Pennsylvania Institute of Certified Public Accountants (PICPA) has just released a poll of their members. One of the questions asked: How should PA close the state budget gap? The top three choices from the bean counters: (1) privatize liquor stores (69%); (2) implement a severance tax on shale drilling (67%); and (3) legalize pot smoking (27%). There are 22,000 members of PICPA, so if 22% of them (almost 5,000) want to light up a joint, it looks like more than a few in PA believe like John Hanger, Gov.-elect Wolf’s new Secretary of Planning and Policy. Before Hanger dropped out of the governor’s race, he famously endorsed legalizing pot smoking. Maybe PA will become the new Colorado–full of stoners? But we digress. Does anyone else find it suspicious that the people who would have to file reams of tax forms on a severance tax (generating lots of billable hours) are in favor of such a tax? Can anyone say, conflict of interest?…
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Sensing that the corrupt Philadelphia City Council will not budget–will not even talk to UIL Holdings about their proposed $1.86 BILLION offer to purchase the municipal-owned Philadelphia Gas Works (PGW)–the company has pulled the plug on the deal. It’s now officially 100% dead. Even though UIL has assured and reassured anyone who would listen that they won’t come in and fire the union workers, and that they would accelerate an already-ambitious schedule of upgrading PGW’s failing pipeline infrastructure, City Council members are stuck in the pockets of powerful unions and shadowy others in the background who opposed the deal. UIL has been more than patient. Philly’s dream of being an “energy hub” in the northeast is also dead along with the deal…
It’s payback time for newly elected Pennsylvania Democrat Gov. Tom Wolf. He took radical California environmentalist Tom Steyer’s money, millions of it, to get elected (see