PA-Gov: McCord Releases Natural Gas Plan

McCord
McCord

State Treasurer Rob McCord released a plan for the taxation of natural gas as part of his policy package in his run for governor.

The plan includes a 10 percent tax on natural gas extraction, estimated to generate $1.63 billion in its first year, which would be reinvested in education.

“We’re sitting on top of one of the largest natural gas formations in the world,” said McCord. “And yet for the privilege of allowing drillers to make billions of dollars in profits from our resources, we receive less than any other state in the country. That makes no sense at all. These natural gas resources belong to the people of Pennsylvania and the people deserve to be fairly and justly compensated for allowing drillers to profit from their resources. That’s why I’m proposing this sensible plan. It does more than any other to make this a fair deal.”

McCord wants to see education funding levels restored to pre-Corbett levels, when federal stimulus money provided for $1 billion in funds.

He calls the plan, .“Fair Deal for Pennsylvania Families” and it contains several other provisions, including:

• Prohibit any further leasing of state lands for drilling;
• Rescind the power of eminent domain by private gas companies;
• Repeal and replace Act 13 with tougher laws to give the Pennsylvania Department of Environmental Protection (DEP) more oversight and inspectors;
• Increase well permit fees and bond payments;
• Ban any discharge of drilling wastewater into Pennsylvania’s rivers and streams that is not treated to the standards of the Safe Drinking Water Act; and
• Improve public access to drilling information.

In the battle for the Democratic nomination, McCord faces former Revenue Secretary Tom Wolf, former Auditor General Jack Wagner, Rep. Allyson Schwartz and former DEP Secretary Katie McGinty.

6 Responses

  1. Who is listening to the Pa Democrat State committee to have a moratorium on fracking? The Pa Supreme court said that this fracking will hit the public purse just like the strip mining. When your car is falling apart while driving down the road , do you keep driving ? No you stop and find out what is wrong, fix it , then go on. The Governor, GOP leadership and some Democrats act like paid shills of the oil & gas industry. Act 13 exposed the traders .There will be NO mercy at the polls.

  2. Anyone running can say anything they think we want to hear. Getting them to do what they say is another story. Anyone running for governor should at least acknowledge that there are MAJOR problems with drilling in PA. HUNDREDS of families without water. Before taxing or anything else make the industry FIX IT. Fix the problems they have created before allowing ANY new permits. After that, then we can decide how much tax to impose if they can PROVE it can be done right!

  3. Aw, c’mon. McCord’s heart’s in the right place, but 10% would be the highest fracking tax in the country…as the R-controlled legislature will be happy to point out. Of course, you can proposed 10% and settle for half. But McCord’s already spent the money. I’m still undecided…and this doesn’t move me any closer to McCord.

  4. Bravo, McCord! A notch in Rob McCord’s favor.

    Catch up: Tom Wolf, Allyson Schwartz, Katie McGinty, Jack Wagner.

    I prefer they leave the gas in the ground, and our most pristine areas remote. But if they are going to ruin our Commonwealth to enrich Royal Dutch Shell and British Petroleum stockholders, at least cut our kids in on the action, like Republican states like TX and AK do.

  5. well i guess i was wrong. i thought mccord dropped out of running for governor.out of all the candidates running mccord would make the best governor and that is the truth.

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