Wolf plan seeks higher income, drilling taxes
HARRISBURG — Gov. Tom Wolf is pursuing a half-point increase in the state's personal income tax and a new extraction tax on natural gas drilling in an effort to solve the state's 3-month-old budget impasse.
Basic details of the proposal Wolf will formally submit later Tuesday also include cuts for seniors and disabled people in property taxes used to fund schools, according to an administration document obtained by The Associated Press.
Wolf says the new money will close the deficit and add about $400 million for basic education.
Republican leaders have offered to hold a vote as a way to show the governor's proposal for higher taxes lacks sufficient support in the Legislature.
The state income tax rate would increase from 3.07 percent to 3.57 percent.