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).
Governor Tom Wolf has been travelling the state peddling this year’s version of his tiresome tax hike plan. His redundant tax on natural gas production is masquerading as an infrastructure improvement plan under the hopeful sounding name of “Restore Pennsylvania.” In typical tax-and-spend political irony, the plan would penalize the success of the very industry that is actually helping to restore Pennsylvania.
The Department of Environmental Protection (DEP) is cashing in on a permissive regulatory environment in Harrisburg. Late-2017 DEP fee increase approvals are on pace to cost businesses and consumers $50 million, with more increases on the way.
The following statement can be attributed to David N. Taylor, President & CEO of the Pennsylvania Manufacturers’ Association
October 2, 2018
Even after two decades in Harrisburg, the cynicism of some politicians can still surprise me.
Governor Tom Wolf’s budget proposal offers little to encourage growth in Pennsylvania. As President Pro Tempore Joe Scarnati (R-Jefferson) said after the governor’s address, this budget does nothing to help Pennsylvania avoid getting stuck on the sidelines when the “wave of economic growth hits from the changes in federal tax law.”
CONTACT:
NAM Media Relations
Washington, D.C., October 11, 2017 – National Association of Manufacturers (NAM) President and CEO Jay Timmons and Pennsylvania Manufacturers’ Association (PMA) President David Taylor released the following joint statement on President Donald J. Trump’s tax reform rally in Harrisburg, Pennsylvania:
For Rep. Steve Bloom (R-Cumberland), it’s time to turn Harrisburg’s troubles over to a higher authority. Partial and late budgets, declining credit ratings, costly and error plagued state contracts, and a trail of corrupt officials are symptoms of deep structural problems, he says, and a constitutional convention is the only way to fix them. “These are issues the Legislature is either unwilling or unfit to take care of,” Bloom said.
The General Assembly returns to Harrisburg this week in search of more than $2 billion to fully fund, as required by law, the $32 billion spending plan that was sent to the governor last Friday. The available options are all unwelcome: borrowing; more gambling; increasing taxes; shifting money between funds.
No matter what product is being made, manufacturers are taking raw materials or component parts and going through a multi-state process to yield a finished good. In doing so, they are almost always deploying some kind of chemical process and consuming a large amount of energy. For some manufacturers, energy is their most expensive cost input, which is why manufacturers require available, affordable, and reliable energy.
Senator Pat Toomey (R-PA) rightly characterizes President Trump’s tax reform plan as one that will result in well-paying jobs --“The best economic stimulus for the middle class,” he said in a statement.
He also noted that massive increases in government spending and nearly $2 trillion in taxes under President Obama delivered the opposite: “The slowest lowest post-recession recovery since World War II, weak job growth, and stagnant household income.”
When the layers of Governor Tom Wolf’s latest budget proposal are peeled away during the legislative budget hearings that begin next week, Pennsylvanians will see a rogues gallery of job-killing tax increases from across the decades – some defeated, some repealed – back to haunt our economy.