Wolf: Wealthy Should Pay More To Cut School Taxes
PHILADELPHIA (AP) – Democratic gubernatorial candidate Tom Wolf says he’d look to increase income taxes on Pennsylvania’s higher earners to expand the state’s share of public education funding.
In an interview with a panel of Associated Press reporters and editors Friday afternoon, Wolf says he’d tie the increase to a dollar-for-dollar reduction in local property taxes levied by school boards.
Wolf’s goal would be to raise the state’s share of public school costs to 50 percent. That’s a shift of several billion dollars a year. It currently pays about one-third, while property taxes shoulder more than 40 percent.
Wolf’s plan to reshuffle school funding would accompany his proposed overhaul of the 43-year-old income tax to target higher earners.
Wolf is challenging Republican Gov. Tom Corbett in the Nov. 4 election.
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