Democratic Governor Tom Wolf, now in his second and final term, wants to impose a severance tax on natural gas producers to subsidize “Restore Pennsylvania.” The plan has three main components: remove blight—which is found in most communities—provide flood mitigation and improve broadband access throughout the state. The initial plan, which has just been introduced to the Republican-controlled state legislature, seeks to raise $4.5 billion in bonds to be repaid over 20 years from the severance tax.

Naturally, the gas industry and the business community aren’t keen over Wolf’s plan.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access