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).
CompetePA's statement on the best way to stimulate growth and job creation in the Commomwealth. Click here to read the release.
Corbett Policies Spur PA Economic Resurgence
Over the years, Pennsylvania hasn’t been an exemplar for job creation and economic growth. A new mindset is in order, according to a study that shows that the pro-growth policies of the Corbett Administration have Pennsylvania rising quickly up the ranks.
After saying jobs are top priority, Senator then proposes making them more expensive to create
An innovative policy to stimulate investment in manufacturing now awaits action in the Pennsylvania House. State Rep. Tommy Sankey (R-Clearfield) recently introduced HB 869, which allows smaller manufacturers to set aside pre-tax money to cover future costs much the same way an individual would set up an IRA or a health savings account. The plan is modeled on an existing program in Connecticut.
GMAC Recommendations Taking Shape In PA; Over 190,000 Job Openings Posted on PA Website
On Thursday, March 28, Governor Tom Corbett will be in the Lehigh Valley to announce a campaign to implement his Manufacturing Council’s (GMAC) top recommendation under its Talent and Workforce initiative -- the Adopt a School program. Whoever said manufacturing is dead certainly isn’t paying attention.
New Carbon Tax a Blow to a Surging Manufacturing Sector
Just when American manufacturing is starting to flex its muscles again, a movement is underway in Washington to levy a new tax that would stifle that resurgence. Two weeks ago legislation was introduced in the U.S. Senate to establish a tax on carbon based energy - the same affordable, reliable energy partly responsible for American reshoring.
New Study Finds Proposed Tax Would Hurt Manufacturing Growth, Jobs and Energy Prices in Pennsylvania
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.
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.
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.