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Tell Us: Your Take On Corbett's $1.65B Shell Oil Tax Break?

Do you support Gov. Tom Corbett's proposal to give Shell Oil a $1.65 billion tax break?

Gov. Tom Corbett wants to give Shell Oil tax credits worth $1.65 billion over 25 years so the company will build a refinery in western Pennsylvania to capitalize on the Marcellus Shale natural gas boom, according to Businessweek.

Corbett says the deal could help reinvigorate manufacturing in Pennsylvania and create jobs.

Critics say Shell would probably bring its business to the state without the tax incentives. Corbett has also been criticized for

Shell is the world's second largest company by revenue and made profits of $31 billion last year.

 

truth seeker June 08, 2012 at 10:40 AM
Bill - the job creator argument is so weak here, this is about staying in the pockets of the big boys. Some poeple care nothing for the people and focus only on the corporations. This same argument was used not to tax marcellus despite the fact that all other states tax it where it exists (even West Virginia has a severance tax).
BGK June 08, 2012 at 02:16 PM
We, Citizens of Pennsylvania, have had bad luck with Corbett and the last 2 Governors. I wonder with this tax pledge if he is getting free Shell Gas for his Suvs!!!
Andrew Geissinger June 09, 2012 at 03:37 AM
The governor’s proposal is bad policy. Unfortunately this type of policy has become commonplace in our modern welfare state. If tax breaks need to be given to corporations so they locate their businesses in Pennsylvania, then this is a tacit admission on the government’s part that perhaps taxes are too high. It could also mean that the cost of complying with regulatory requirements is too great. Pennsylvania has a corporate tax law. All corporations in the state should comply with it. We shouldn’t grant exceptions. If taxes are too high, then the appropriate way to deal with that is to cut taxes equally across the board. If the cost of complying with regulations is too great, the way to deal with that is to identify regulations which hamper enterprise and aren’t needed for legitimate safety reasons. Those regulations should be abolished. We need a regulatory environment that encourages entrepreneurship and creativity. Businesses shouldn’t have to wade through hundreds of pages of regulations to figure out what they can legally do or what they are required to do. They should instead be serving their customers. If these reforms were implemented, then the state would have a good business environment and there would be plenty of jobs. And they would be productive jobs based on consumers' needs rather than jobs politicians or special interests want to pad their resumes or profit on the taxpayers’ dime.
John June 10, 2012 at 01:53 AM
Maybe I am reading this incorrectly. Presently, the state gets $0.00 from Shell because it has no business in PA. So to incentivize them, we offer them tax benefits of 1.65B over 25 years, or $66 million/year. This state needs help now, and a tax credit of $66M doesn't suggest they pay $0 taxes, just $66 million less. But today we get $0.00. Even if we broke even, we still win! And if some of the really bright people here can please prognosticate what $66 M will be worth in 2037, I would be much appreciate that fact. The other option is not to pull the trigger, have them take a better offer from West Virginia, and in 2037 nobody will remember who the PA Governor was who blew that deal. However based upon recent Left response to most, the Democratic Governor in 2037 will be blaming all of his problems on that guy Tom Corbett back in 2012 for allowing this deal to slip away!
John June 10, 2012 at 01:56 AM
So if I understand you correctly, get rid of all of the politicians and lawyers? Sign me up!!!

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