Gov.-elect Tom Wolf might have been off the mark by hundreds of millions of dollars when he said during his campaign that a new severance tax on natural gas drillers would raise more than $1 billion, potentially complicating his bid to secure new funding for Pennsylvania schools and alleviate a severe budget shortfall.
Thanks to those higher gas fees at the pump, PennDOT will soon have a billion dollars more each year to spend on roads and bridges.
Pennsylvania’s new gas tax took effect Jan. 1.
On Monday morning, Gov. Tom Corbett signed the most expansive and expensive transportation funding bill in recent years promising major new investments.
Gasoline prices continue to rise this week and the price could go higher if lawmakers approve Gov. Tom Corbett’s plan to raise the cap on the state’s oil franchise tax.