Wolf: Wealthy should pay more to cut school taxes
Democratic gubernatorial candidate Tom Wolf says he’d look to increase income taxes on Pennsylvania’s higher earners to expand the state’s share of public education funding.
In an interview with a panel of Associated Press reporters and editors Friday afternoon, Wolf says he’d tie the increase to a dollar-for-dollar reduction in local property taxes levied by school boards.
Wolf’s goal would be to raise the state’s share of public school costs to 50 percent. That’s a shift of several billion dollars a year. It currently pays about one-third, while property taxes shoulder more than 40 percent.
Wolf’s plan to reshuffle school funding would accompany his proposed overhaul of the 43-year-old income tax to target higher earners.
Wolf is challenging Republican Gov. Tom Corbett in the Nov. 4 election.
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