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PA Considers New Natural-Gas Drilling Tax

The Wall St. Journal reports that “lawmakers facing a $1.5 billion budget gap in Pennsylvania are considering imposing a new tax on natural-gas production, one of several drilling-boom states wrestling with how much to tax the maturing industry.”  

“Republican Gov. Tom Corbett has said a so-called severance tax, which drillers pay on the value of the gas taken from a well, could kill much-needed jobs. But his position recently has begun to soften.”  

“‘The governor has remained publicly vocal that he does not like it,’ Corbett spokesman Jay Pagni said. ‘He also recognizes that companies should pay their fair share. All options will be considered.'”