Senator Pat Stefano (R-32) said he will strongly oppose a massive tax and spend budget proposed today by Governor Wolf, saying it would be devastating to Pennsylvanians and especially small businesses that are struggling to survive during the COVID-19 crisis.
Stefano said the governor’s plan to increase spending by more than $3 billion – the largest proposed increase in history – is unacceptable and could further hurt the state’s struggling economy. The governor’s personal income tax hike would increase the amount of state tax paid out of many Pennsylvanians’ paychecks by a staggering 46 percent.
“This is absolutely the worst possible time to raise taxes and spending as Pennsylvanians struggle with the COVID-19 crisis,” Stefano said. “It would place an enormous burden on citizens, families and our small businesses who are barely making ends meet.”
He stressed that the tax increase, coupled with the Governor’s ongoing COVID-19 restrictions and his proposed minimum wage hike, would be devastating for many family operations that are already struggling to stay financially solvent.
Stefano also noted that the Governor is again making his annual push for a Marcellus Shale extraction tax. This proposal would severely impact the gas industry and its workers, further hurting the state’s economy. Pennsylvania saw a $50 million reduction in its impact fee revenue, according to the latest Independent Fiscal Office report.
“The governor’s veiled tax and spend message was more of the same failed leadership that we have seen throughout his administration,” Stefano said. “In very difficult times, we need to pass a budget that is fiscally responsible, keep businesses open and employees working, and rebuilds our struggling economy.”
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