LETTER: Table proposed tax hikes
As Pennsylvania continues to be a national leader in natural gas drilling and production, we must ensure that innovation, development, and adaptability within the natural gas industry are not curtailed.
At Billman Geologic Consultants, we have seen how transforming the gas industry has been in Western Pennsylvania and for the entire commonwealth. Our experience has been that local business owners, landowners and families have benefitted from the growth of the natural gas business. In fact, it has been life-changing for many citizens and has provided family-sustaining jobs for Western Pennsylvanians. Additionally, the gas industry has significantly helped to improve the environment by providing a low carbon fuel for heating and producing electricity.
Recent federal proposals to raise the corporate tax rate, as well as the Global Intangible Low Tax Income rate, threaten Pennsylvania’s natural gas industry, as well as the tax revenue it provides to communities across the Commonwealth. These proposed tax hikes also come on the heels of permitting delays at the Federal Energy Regulatory Commission (FERC), which has stymied pipeline expansion nationwide.
For the sake of Pennsylvania’s economic growth and future, these tax hikes must be tabled and delays at FERC must be resolved. We cannot just freeze out the natural gas industry with bureaucratic and financial delays – the consequences to Pennsylvanians are too severe.
Dan Billman
Houston