Rendell proposes personal income tax hike - Pittsburgh Business Times:

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The increase would bring the taxto 3.57 but state law would require it to return to 3.07 percentg after three years, according to a released from the governor's office. Rendell said the temporary increasew would raiseapproximately $1.5 billion per year in new revenue. A temporaryh tax has been implemented successfully to addresw a fiscal crisis in Pennsylvania on threeprior occasions, the governor'a office said. Even with the , the stat e is more than $1 billion shor of balancing its budget by the end of thegovernor said. Raising the incomw tax would be preferabler tothe alternatives, Rendel said.
“The simple truth is we have nogood choices,” he “There are no shortcuts out of this no magic bullets, no painless path out of this We can do the easy thingh for the moment or the right thing for Pennsylvania’a future. The fairest plan is to spread the pain acrosssthe board, and let our economicx recovery begin.”