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Hagan proposes increase to Ohio tax on natural gas, oil exploration



Published: Tue, February 28, 2012 @ 4:23 p.m.

COLUMBUS — State Rep. Robert F. Hagan of Youngstown, D-60th, today called on fellow state legislators to increase the state severance tax on natural gas and oil exploration to 7 percent, which would bring it in line with other states across the nation.

The new rate means revenues could rise to $500 million, Hagan said.

“We tried to base it on some of what the most successful states were doing relative to gas or oil,” he said. “I’m not against [fracking], but if we’re going to frack our area, we should take the biggest advantage of it as we can.”

For the complete story, read Wednesday's Vindicator and Vindy.com


Comments

1AtownAugie(697 comments)posted 2 years, 6 months ago

The "dog philosphy" says that if you can't eat it or hump it, pee on it. Striking how similar this is to Comrade Bob's perspective on job-generating businesses.

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2Ianacek(909 comments)posted 2 years, 6 months ago

It's too soon to raise this tax . This is a fledgling industry that could produce enormous wealth if left alone for a while . Let the tree grow some more before you start pruning it .

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3Ypboy(50 comments)posted 2 years, 6 months ago

Bobby Hagan is an idiot. One should always do the opposite of what Bobby suggests. He's just another big spending D....just like his old man.

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4CCADTI(80 comments)posted 2 years, 6 months ago

TAX, TAX, TAX, TAX, TAX. Haven't the thieves taken enough? Please don't try to help anymore. It hurts too much.

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