Business Tax Relief – Page 3 – Pennsylvania Manufacturers’ Association

Study after study shows Pennsylvania’s business taxes to be among the highest and least competitive in the nation. The “sticker shock” of high taxes makes it difficult to show a business relocation prospect all of Pennsylvania’s many attributes. To be competitive, it is essential that Pennsylvania continues to reform business tax rates and administration to enhance overall business competitiveness.

Progress is being made as Act 55 of 2022 will gradually lower Pennsylvania’s highest-flat-rate-in-the-nation Corporate Net Income Tax of 9.99% to 4.99% by 2031. But more reforms are needed. Net Operating Loss should be uncapped from the current 40% as Pennsylvania is one of only 3 states that applies such a limit that discourages business investment. Other reforms include but are not limited to fairer and more uniform tax treatment of businesses paying at the Personal Income Tax threshold as is done in other states.

Study: Pennsylvania On Wrong End of Debt, Solvency Ranking

June 22, 2016 | Business Tax Relief

Spending restraint and opposition to tax hikes by Republican lawmakers over the past five years have likely kept Pennsylvania from entering a fiscal death spiral. A new study by the Mercatus Center at George Mason University, which compares solvency and other fiscal health indicators among the states and Puerto Rico, places Pennsylvania near the bottom, ...

Governor Wolf uses budget address to insult legislators, demand higher taxes and spending

February 10, 2016 | Business Tax Relief

On Tuesday, Governor Tom Wolf brazenly scolded House and Senate Republican lawmakers instead of presenting a budget proposal to an equal branch of government. The budget fiasco now consuming Harrisburg, he said, is the result of Republicans playing politics and ignoring the math. He then went on a political tirade, saying throughout the address that ...

Rookie Governor Inflicts Six Months of Pain and Suffering for No Reason

January 07, 2016 | Business Tax Relief | Workforce/Education

For all practical purposes, the General Fund budget signed in part by Governor Wolf in late December was the same one he vetoed in early July. At the time of the signing, he didn’t indulge the press to answer the most obvious question: why sign it now but not then? Surely, he could have saved ...

Kids Face Loss Of Millions In Scholarship Money Under “Education Governor”

December 17, 2015 | Business Tax Relief | Workforce/Education

Under current Pennsylvania law, it is solely the responsibility of the Department of Community and Economic Development (DCED) to release Educational Improvement Tax Credits (EITC) and the Opportunity Scholarship Tax Credits (OSTC) to the approved business applicants. The Commonwealth of Pennsylvania is currently withholding $150 million in credits, threatening the future of schools and programs ...

“General Assembly Budget” Now More Likely As Shutdown Effects Worsen

October 27, 2015 | Business Tax Relief

Legislative sources say that the next move to break Governor Wolf’s budget shutdown, now in its 16 week, will be to give the governor a piece of his original state spending plan: a higher sales tax in exchange for a reduction in local property taxes, while remaining firm on other key items. The plan amounts ...

Budget Impasse: What’s next?

July 30, 2015 | Business Tax Relief

The war of words over the budget impasse continues and, for his part, Speaker of the House Mike Turzai (R-Allegheny) must be getting tired of repeating the obvious, or what should be the obvious. At a Pennsylvania Press Club briefing on Monday, Speaker Turzai clearly felt it necessary to yet again say that the Governor ...

Governor Campaigns for Nation’s Highest Tax and Spending Increases

July 30, 2015 | Business Tax Relief

Two weeks after the June 30 budget deadline, Governor Tom Wolf is on the road pitching the budget plan he first unveiled in early March. He’s standing by his plan despite a series of embarrassing setbacks: zero votes for his budget in the House when it was brought to the floor in early June; an ...

Governor Wolf Vetoes Budget; Presses for Tax Increases

July 30, 2015 | Business Tax Relief

To protect the special interests of public employee unions, Governor Tom Wolf vetoed a $30 billion 2015-2016 General Fund budget approved this week by the Republican-controlled General Assembly. The responsible, Republican budget would have saved billions by reforming our run-away public pension systems and would have raised nearly $300 million by ending the byzantine state ...

Wolf’s Massive, Stale Tax Increase Proposals Face Reality Check in House

June 02, 2015 | Business Tax Relief

On Monday, the House wasted no time dismissing, on a 0-193 vote, Governor Tom Wolf’s entire budget proposal, including his massive tax increase scheme. Afterwards, the governor called the vote “gamesmanship,” a curious remark since lawmakers were only playing his game. He presented his budget plan on March 3 as one that should be considered ...

We All Lose Under Wolf Tax Proposals

May 07, 2015 | Business Tax Relief

For a moment in time, Pennsylvania was becoming more economically competitive. For three straight years, our commonwealth climbed over other states in a comparison of competitive vigor called Rich States, Poor States by the American Legislative Exchange Council, ALEC. (View summary HERE!) Then during 2014, we dropped hard – only two other states lost as ...