Pennsylvania governor proposes tax system revamp in $29.9 billion budget

Reuters News
Posted: Mar 03, 2015 12:08 PM

(Reuters) - Pennsylvania Governor Tom Wolf proposed a $29.9 billion budget on Tuesday that includes $2.5 billion of net tax increases for fiscal 2016.

Wolf's sweeping revamp of the state's tax system would raise sales and personal income taxes while lowering property and corporate taxes, he said during his address to lawmakers.

(Reporting by David DeKok in Harrisburg and Hilary Russ in New York; Editing by Alden Bentley)