Just last week Gov. Wolf announced an historic budget for Pennsylvania. Our Governor has figured out a way to: balance the budget, put money into working people’s and small businesses’ pockets, and fund our schools. At nearly 1000 pages the budget proposal can seem overwhelming. At One Pittsburgh we are hard at work reviewing all the key points of the budget, and we are going to spend the next week breaking it down, piece by piece.
The budget includes a series of bold moves by Governor Wolf who seems to have accomplished more in his first 100 days than Corbett did in his entire term. This budget proposal is evidence that Wolf is going to govern Pennsylvania in a way that values people over corporate interests.
We see One Pittsburgh’s priorities again and again in this budget proposal: restoring education funding, even increasing it over time; raising wages for working families, and finally making huge corporations and wealthy oil drillers pay their fair share. You can imagine there will be a lot of mud-slinging on the part of the super-rich, trying to confuse us as to what this budget really is.
To get you started you should know that this budget proposes to invest in schools as if our future depends on it, which it does. We can do that by requiring that rich oil companies finally start paying a reasonable severance tax for all their drilling, something every other state already does.
By closing the Delaware loophole and reducing the corporate income tax simultaneously Gov. Wolf has found a way to reward those small businesses who make up the lion’s share of taxes paid on corporate income and hold accountable the 70% of corporations operating in Pennsylvania who don’t pay any corporate income tax.
Before we go into more detail, here is an infographic that could help understand the budget proposal.