Summary
Pennsylvania lawmakers are working on a bill that aims to remove property taxes, which help fund schools, and compensate for the loss by increasing sales and income taxes. The plan includes taxing residents' retirement funds and has raised concerns among many who worry about the impact on their finances. The bill is set to go into effect in 2029, if passed, after being introduced as a constitutional amendment in the state.
Key Facts
- A bill in Pennsylvania proposes eliminating property taxes for schools by 2029.
- It plans to offset lost revenue by raising sales tax from 6% to 8%.
- The bill also introduces a tax on clothing, candy, and residents' retirement funds.
- Pennsylvania lawmakers introduced the bill as a constitutional amendment, which requires voter approval.
- Property taxes currently provide $15 to $17 billion in revenue for Pennsylvania schools.
- Experts warn that eliminating these taxes could hurt local government budgets and services.
- Senator Chris Gebhard argues that high property taxes are causing people to lose homes.
