Does Tom Corbett support a severance tax on natural gas?
Pennsylvania is blessed with remarkable resources, innovation and a legendary work ethic. Even in its infancy, the Marcellus Shale is beginning to have a great economic impact on Pennsylvania. At a time when the national and state unemployment rates are rising and our country is slowly trying to regain its traction from the recession, the Marcellus Shale is working to create jobs and millions of dollars in royalty fees and local and state tax revenues. The commonwealth currently finds itself at a competitive advantage when compared to other states with similar gas shale plays. Capital investment to develop Pennsylvania’s Marcellus Shale is increasing rapidly, and, according to an economic impact study released by Penn State University in 2009, industry activity is expected to generate over $600 million in tax revenues to the Commonwealth during 2010 without a severance tax. Tom Corbett believes that a punitive tax on the industry at this stage would reduce capital investment in the com
