UpdatedFri, Feb 5, 2021 at 1:31 pm ET
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Pennsylvania Gov. Tom Wolf. (PACast)
HARRISBURG, PA Gov. Tom Wolf unveiled the state s preliminary 2021-22 budget on Wednesday and the document immediately raised eyebrows. The governor is advocating a large personal income tax hike in the middle of the coronavirus outbreak, largely to pay for increased education subsidies for teacher salaries and other school district costs.
Here s what you need to know about Wolf s $37.8 billion spending plan:
Not everyone would see their state income taxes rise.
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Wolf wants to raise the income tax from 3.07 percent to 4.49 percent - a huge increase, but only for the state s top wage earners.
During the COVID-19 pandemic, we have learned that state governors are vested by law with expansive executive powers during declared disaster emergencies. As a result, many governors have become household