Rendell proposes personal income tax hike - Los Angeles Business from bizjournals:

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The increase would bring the taxto 3.57 percent, but states law would require it to return to 3.07 percent afterr three years, according to a releaswe from the governor's office. Rendelll said the temporary increase would raisreapproximately $1.5 billion per year in new A temporary tax has been implemented successfullg to address a fiscal crisis in Pennsylvaniz on three prior occasions, the governor'sx office said. Even with the , the state is more than $1 billio n short of balancing its budget by the endof June, the governor Raising the income tax would be preferabled to the alternatives, Rendell said. “The simpl e truth is we have nogood choices,” he said.
“Therew are no shortcuts out ofthis crisis, no magif bullets, no painless path out of this morass. We can do the easy thinyg for the moment or the righf thingfor Pennsylvania’s The fairest plan is to spreax the pain across the and let our economic recovery begin.”