Business Taxes

Reduce the Corporate Net Income Tax, at 9.99 percent the second highest in the country. Stay on track for final phase-out of the Capital Stock & Franchise Tax. Maintain fight against corporations reporting all taxes from all jurisdictions (combined reporting). 

Corbett Budget Keeps Government Focused on Core Functions -- Business Taxes

Business Taxes

Only two states, Pennsylvania and New Hampshire, cap the net operating losses (NOL) business can carry over against their Corporate Net Income (CNI) taxes. Here’s why the other 48 don’t. The cap penalizes start-up and cyclical companies by significantly increasing their effective tax rate. Allowing for the deduction in net operating losses improves a business’s tax liability. Not allowing for uncapped NOL deductions puts Pennsylvania at a direct disadvantage in attracting or retaining jobs in these innovative industries.

Corbett Budget Keeps Government Focused on Core Functions -- Health Care

Health Care

Remarkably some have characterized the Medicaid expansion under the federal Affordable Care Act (ACA) as “free” for Pennsylvania because Washington “covers” the initial few years of cost. This, when the money to pay for the expansion still comes from the same pockets, ours, and the commonwealth will end up shouldering most of the costs in the down years anyway.

Corbett Budget Keeps Government Focused on Core Functions -- Transportation

Transportation Funding

Our roads and bridges are not only costing us millions in delays and vehicle repairs but they are dangerous as well. Fifty years is the average age for a Pennsylvania bridge and PennDOT classifies more than 4000 bridges as structurally deficient. These deficiencies cause rerouting, shipping delays, and hazardous situations on a daily basis.

PMA Bulletin -- February 27, 2013

Corbett Budget Keeps Government Focused on Core Functions

Over the next two weeks, the House and Senate Appropriations Committees will continue holding budget hearings on the proposed FY 2013-14 spending plan Governor Tom Corbett unveiled on February 5.  

Here’s to trusting that when the hearings end on March 7, lawmakers conclude, as we have, that there’s a lot to like in the plan.

Corbett Budget Continues Spending Restraint, Expands Opportunities

(AP Photo/Matt Rourke)

Governor Corbett’s third budget proposal continues a restraint in pubic spending that over the past two years eliminated a $4.2 billion deficit without raising taxes.

“We stopped our fiscal cliff before it even had a name,” Governor Corbett said in his address before the General Assembly on February 5. “And we didn’t do it by raising taxes and increasing spending.”

Corbett Budget Continues Fiscal Responsibility; Supports Greater Opportunities for all Pennsylvanians.

The Pennsylvania Manufacturers’ Association announced its support for Governor Corbett’s 2013-14 budget. 

“Governor Corbett’s budget plan sets the course for expanding Pennsylvania’s economic growth,” said PMA Executive Director David N. Taylor. “It continues his leadership of fiscal discipline and recognizes that private sector job growth is essential for the future prosperity of our commonwealth.”

Budget, Transportation Early Concerns of New Legislative Session

The 2013-14 legislative session, with 23 new lawmakers, began on January 1 under a constitutional requirement that swearing in occur the first Tuesday in January. The new members will have little time to adjust to the rules and routine as they will have to embrace transportation funding, liquor privatization, another tight budget, and we at PMA hope they will tackle key business issues left over from last year.

The Bulletin -- November 29, 2012

For a Mere $41 Billion We Can Get Out of This Mess

Pro-Growth Agenda Primed for Early Approval

Lawmakers sworn in on January 1st to kick off the 2013-14 legislative session have an opportunity to act with no delay on a pro-growth agenda already vetted by industry, labor, and both political parties. The agenda was approved in August by the Governor’s Manufacturing Advisory Council (GMAC).

Toomey "Taxing Manufacturing" Report

Toomey Report: Manufacturers Face Job-Killing Tax Hike Under Obama Plan

While excuses continue to be made for President Obama’s dismal record on job creation, it’s more difficult to rationalize a policy that actually drives jobs away.

A report prepared by U.S. Senator Pat Toomey (R-Lehigh) shows that the Administration’s tax policies will undermine the very sector that has the strongest multiplier effect on job growth - manufacturing.

A planned tax increase in 2013 will raise the marginal rates on many manufacturers from 35 percent to 41 percent.