Analysis: Wolf’s “Fresh Start” Plan Requires Huge Tax Increases
From the Commonwealth Foundation:
Wolf’s $4.6 Billion in New Education Spending Would Require Doubling State Income Tax
Analysis Reveals PA Families Face a Potential 121% Increase in Personal Income Taxes
A new analysis of gubernatorial candidate Tom Wolf’s “Fresh Start” plan reveals that Wolf’s spending and tax proposals—$4.6 billion in new spending on education alone—would result in a potential 121% increase to the state income tax rate, bringing it to a whopping 6.8 percent. That’s almost an additional $600 for the average Philadelphia school teacher and $1,690 for a two income family of $50,000 each.
“Promising funding increases is a good way to get voters’ attention,” said former high school teacher Matthew J. Brouillette, president and CEO of the Commonwealth Foundation, “but the dollars and cents behind Wolf’s proposals have been vague at best. We decided to project how much it would actually cost taxpayers to implement some of Wolf’s proposals—particularly in education—and the results show Pennsylvania’s working families will be paying hundreds, even thousands of dollars out of their own pockets.”