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03/28/2024 06:52 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20210&cosponId=37223
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House of Representatives
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted: April 14, 2022 03:02 PM
From: Representative Timothy J. O'Neal
To: All House members
Subject: RGGI Compliance Tax Credit
 
Unfortunately, as we are all aware, Governor Wolf has proceeded with his regulation forcing Pennsylvania to enter into the Regional Greenhouse Gas Initiative (RGGI). He has done so despite mounting evidence that this move is not the right one for our constituents and Pennsylvania’s energy economy.
 
Because of his decision, power plants throughout our state will have to reconsider whether or not they can still operate while having to pay the burdensome RGGI tax, as they will be forced to buy RGGI credits in order to continue producing the electricity that we all depend on. If power plants are forced to close, significant negative economic effects will ripple throughout our local and state economies:
 
  • Countless family sustaining jobs will be lost that not only do our residents rely heavily upon, but so too our local economies and businesses which depend on these power plants and their workers for economic activity.
  • Our municipalities and the state will lose millions of dollars in income and businesses-related tax revenues, and local school districts will be starved for various resources; and,
  • Residents and businesses will experience increased electricity prices in their homes and offices because of RGGI at a time when prices are already going up and everyone can least afford it.
 
To mitigate the negative effects of the Governor’s actions to subject Pennsylvania to RGGI, I plan to introduce legislation that will allow eligible taxpayers to apply for a tax credit equal to the full amount the RGGI taxes they are forced to pay in order to comply with the program. By providing this relief, it is my hope that we can reverse the loss of job opportunities and economic activity that Pennsylvania will assuredly, and frankly voluntarily, be surrendering to neighboring states by joining RGGI.
 
I respectfully ask for your consideration to join me as a co-sponsor of this essential, timely legislation.
 
 



Introduced as HB2698