Income tax plan raising $6.2B in revenue up for discussion

(The Center Square) – A new plan that raises $6.2 billion in revenue through a shift in income tax rates for Pennsylvania residents and businesses alike got its first hearing Friday.

House Bill 1773 proposes cutting wage and interest taxes by roughly one-third and nearly doubling the rate for passive income like lottery and gambling winnings, net profits, dividends and gains from rents, royalties, patents, copyrights and those derived through estates and trusts.

Supporters, including the five Democrats who sponsored the bill, say doing so will redistribute the burden so that...