HARRISBURG, P.A. – The Pennsylvania House of Representatives today passed House Bill 732 – a tax code reform bill that gives nearly $700 million in tax credits to fossil fuel plants that use fracked gas to manufacture petrochemicals. The legislation mirrors tax subsidy language for petrochemical manufacturing that was included in House Bill 1100, which the state Department of Revenue opposed due to its cost and Governor Wolf vetoed in March.
HB 732 originally concerned taxes on sales of real estate to emergency service providers – it was amended yesterday in the Senate to include the petrochemical subsidy. HB 732 now heads to Governor Wolf’s desk.
A statement follows from Mark Szybist, Senior Attorney at NRDC (Natural Resources Defense Council):
“It’s alarming that lawmakers are more concerned with protecting the fossil fuel industry’s bottom line than helping struggling Pennsylvanians keep the lights on and put food on the table. This legislation risks further jeopardizing communities reeling from an unprecedented health and economic crisis, and grappling with the effects of climate change. Doling out subsidies to polluters is bad policy – especially with the commonwealth facing a multi-billion dollar budget hole.”
NRDC (Natural Resources Defense Council) is an international nonprofit environmental organization with more than 3 million members and online activists. Since 1970, our lawyers, scientists, and other environmental specialists have worked to protect the world's natural resources, public health, and the environment. NRDC has offices in New York City, Washington, D.C., Los Angeles, San Francisco, Chicago, Bozeman, MT, and Beijing. Visit us at www.nrdc.org and follow us on Twitter @NRDC.