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.”
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