Yablonsky: Wolf's severance tax plan will hurt development

March 27, 2015

Gov. Tom. Wolf's proposed natural gas severance tax is, by a factor of two, the highest such tax in the U.S., Allegheny Conference on Community Development CEO Dennis Yablonsky said Friday.

Yablonsky, speaking during a panel discussion about the downstream business opportunities presented by shale gas development, said the tax, as Wolf is proposing it, carries a 15 percent effective rate. And that, he said, is simply too much.

"I believe, at that rate, we would see further capital investment reductions and further layoffs," he said. "I don't think any of us want that."

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