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A Call to Action on SB76!

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Monday the 23rd of November saw the Pennsylvania Senate vote down SB76, the School Real Estate Tax Elimination Act. The negative vote was on the slimmest of margins at 24 nay and 24 yea, with Lt Governor Stack voting the deciding 25th nay vote.

We commend all 24 Senators who voted for 76. We question the Party Leadership in both political parties for their opposition. Polls throughout Pennsylvania show a huge majority of citizens wanted this legislation to pass. The opponents pointed to a supposed short fall in revenues for the 500 school districts if 76 passed. However, the latest IFO Report clearly shows that if all revenue sources are considered, then 76 is revenue neutral and may well create a huge

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Was the PA Senate Vote on SB76 a set-up?

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On Monday, November 23rd, the Pennsylvania Senate conducted its’ debate and vote on SB76-the School Real Estate Tax Elimination Act. The Senate had placed an Amendment to SB683 to insert the provisions of SB76 into that piece of legislation.

The debate was interesting, and the vote was exceptional at 24 yea and 24 nay with the Senate President, Lt. Governor Stack, casting the deciding nay vote making the outcome 25-24 against giving Pennsylvania taxpayers the much needed School Tax break. Those opposed to 76 made many arguments about not raising the Income Tax and Sales Tax which SB76 would have done to eliminate School Real Estate Taxes. However, those slight increases would have been minor compared to the savings in School Taxes.

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Pennsylvania State Senator Wagner on SB76 Vote

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Elimination of School Property Taxes One Vote Short

Monday night an historic vote was taken in the Senate on a measure to permanently eliminate all school property taxes in Pennsylvania and establish a fairer way to fund public schools.

The vote to amend House Bill 683 to include provisions from Senate Bill 76, known as the Property Tax Independence Act, failed by a vote of 24-25 with Lieutenant Governor Mike Stack, who presides over the Senate, breaking a 24-24 tie.

To replace the revenue the property tax currently provides to public schools, the legislation would broaden the base of the state sales tax to include more services

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From PA State Representative Metcalfe-Failures of Governor Wolf

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The Metcalfe Minute  

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Regarding Senate Bill 76 – The Property Tax Independence Act.

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Senator Scott Wagner’s

Good Afternoon:

This week has been busy with many people visiting my Senate office in Harrisburg and many emails received regarding Senate Bill 76 – The Property Tax Independence Act.

If SB76 is passed it would eliminate school taxes on all real estate.

To be clear – local county and municipal taxes would remain in place.

The elimination of school taxes would apply to all real estate in Pennsylvania – residential, commercial and industrial.

To completely eliminate school taxes on real estate in PA the legislature has to find between $12-14 Billion Dollars of revenue from other sources.

Other sources mean new taxes, increased taxes, and lifting exemptions on goods or services not currently taxed.

There is no

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Social Security: The Long Slow Default

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at Mises Daily/Mises.org

When an investor buys an annuity or another retirement product from an insurance or mutual fund company, the contract is constant and enforceable through the United States court system. When a United States taxpayer is forced to pay for a government backed retirement system such as the Old-Age, Survivors, and Disability Insurance program (OASDI) — also known as Social Security — the “contract” can be, and is, changed on a regular basis by the United States government, and those changes are generally not to the benefit of the taxpayer.

Participation in the Social Security system became compulsory in 1935 and the first monthly retirement checks were issued in 1940. The first monthly check was issued

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Property Tax Independence Act Conference

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IT WAS A TURN-OUT OF HUNDREDS WITH HOPE

By Linda Shuker It was a Berks County, Thursday evening, but not an ordinary one, as hundreds of inquiring minds turned out to hear the latest standing of bill HB/SB76, that would eliminate school property taxes. Hosting the event at the Inn at Reading was Stout Associates Realtor in Muhlenberg Township. They are avid supporters of HB/SB76, as their business is one of putting people into homeownership, not depriving them or tearing them out of homes. They understand “76” will do just that, enhance people’s ability to become homeowners by eliminating the school property tax from mortgage qualifying ratios. Thousands are potential home buyers, but under the current system, are forced into rent, for lack of

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Are We Headed Toward Another Housing Crisis? What Hasn’t Changed Enough.

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John Ligon / / Max Lies / from the Daily Signal

As a result of the housing crisis, some Santa Ana neighborhoods were plagued with bank repo, foreclosure, and price reduced signs. (Photo: Jebb Harris/ZUMA Press/Newscom)

COMMENTARY BY

John Ligon focuses his research on dynamic economic modeling of federal public policy as a senior policy analyst at The Heritage Foundation’s Center for Data Analysis. His policy research and writing analyzes the economic effects of federal tax, energy, regulatory, housing and housing finance policies. Read his research.

Max Lies is a member of the Young Leaders Program at The Heritage Foundation.

Fannie

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