Pennsylvania’s economy is humming – more of us are working than ever before and tax revenues are coming in well beyond expectations, according to the Department of Revenue. Headquartered in Washington County, my small business, Steel Nation, which proudly supports the growing energy sector, is grateful for opportunities a thriving economy brings.
Whether it’s locally in our region or across the state, natural gas development is a main driver of Pennsylvania’s economic success.
Which is why it doesn’t make any sense for the head of our state’s community and economic development department – the agency charged with attracting investment in Pennsylvania – to support a massive new tax on one of Pennsylvania’s most important economic sectors (“Correcting the Record About Severance Tax,” May 2).
Higher taxes send the clear signal that Pennsylvania is closed for business and companies should invest elsewhere – like Texas, Oklahoma or even Ohio. As a small business that relies on the energy sector, a pullback of investment could be devastating.
Let’s not forget that this industry already pays a tax – the impact fee – which has generated $1.7 billion since inception. That fee is levied on top of all the other taxes in the commonwealth.
Triple taxation of the energy industry, as proposed by our governor, would hurt small businesses, consumers and our overall economy.
President, Steel Nation