Governor Wolf announced plans today (Tuesday, January 28, 2020) to renew the push for his “Restore Pennsylvania” proposal. The plan borrows, bonds, and spends $4.5 billion in infrastructure projects throughout the commonwealth, and then implements a new, additional tax on energy production to attempt to fund the payments. The following quotes can be attributed to David N. Taylor, President & CEO of the Pennsylvania Manufacturers’ Association.
“Pennsylvania’s energy opportunity is a catalyst for economic growth, more jobs, and revitalized communities throughout the whole commonwealth. Governor Wolf’s proposal to borrow and bond $4.5 billion – to be repaid by consumers through a new, additional tax on energy production – is the very definition of a bad idea.”
“The best way for state government to get more revenue out of the natural gas industry is to help it grow. The industrial activity that will be fueled by gas development will be bigger than the drilling activity itself. Developing the downstream industries powered by natural gas and using natural gas feedstocks can bring a new prosperity to Pennsylvania: a $60 billion expansion in Pennsylvania’s gross state product, more than 100,000 new family-sustaining jobs, and an increase in natural gas demand of 4-5 trillion cubic feet – all generating more than two billion dollars in additional tax revenue for the commonwealth every year going forward. A pro-growth, pro-production energy agenda in Harrisburg can maximize this opportunity for Pennsylvania, helping us reclaim our historic role as the manufacturing powerhouse of the world.”
“We want to make it the smart business decision for businesses to locate, hire, and expand here in Pennsylvania, rather than in one of our competitor states. Our site selection ranking won’t improve if Pennsylvania stifles energy production, hinders industrial activity, hikes the cost of electricity, and borrows to subsidize political pet projects. The governor’s tax-and-debt plan will stick Pennsylvanians with a $4.5 billion dollar tab and no one at the table to pay the bill.”