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PA. is giving back HALF of the growth in state tax revenues from fracking - through new tax credits
http://pennbpc.org/memo-marcellus-works-package-asks-taxpayers-subsidize-new-markets-gas-producers"In total, these three bills authorize $250 million of tax credits over six years to be granted for converting fleets of vehicles and heavy commercial trucks to natural gas, as well as subsidizing the construction of natural gas fueling stations along select Pennsylvania highways. Additional bills in the package have a total six-year cost to the General Fund of $72.5 million.
....These three credits would give back over half of the tax benefit the state receives from the growth of the shale gas industry.
When the six additional parts of the Marcellus Works package are added, the total annual cost of these credits will be at $73.5 million in 2013-14, almost as much as the Governor’s proposed increase in the basic education subsidy. Public education is clearly a public responsibility; creating new markets for well-capitalized oil and gas giants is not."
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Doesn't everyone want to have their kids ride in a natural gas powered school bus?
