Facts on Wolf Tax Hike Plan
Commonwealth Foundation’s quick analysis of Wolf’s latest tax hike plan (the one to be voted on Wednesday).
Here is the link:
Four main points:
1. Wolf’s tax hike represents an increase of more than $1,000 per family of four next year.
2. There are no property tax relief provisions included in this plan.
3. 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.
4. Wolf’s tax increase would result in the loss of 14,000 total jobs.