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). 

Macroeconomic modeling of state tax policy enacted by PA General Assembly

Included in the PA Administrative Code, passed by the General Assembly as a part of the FY 2021-22 Budget, was a key provision that enables the Pennsylvania Independent Fiscal Office (IFO) to use dynamic scoring to scrutinize any legislation containing expenditures with a fiscal impact of more than $50 million if requested by a member of the General Assembly. Dynamic scoring is a macroeconomic forecasting technique that estimates the budgetary impact of a change in government policy or expenditure.

FY2021-22 Budget: No New Taxes, Positive Reforms, More to Do.

Last Friday, the General Assembly approved a $40.8 billion state spending plan for FYI 2021-22, without raising taxes. This budget, which covers the fiscal year starting July 1, marks seven in a row where lawmakers have rebuffed Gov. Tom Wolf’s requests for higher taxes, as he has proposed historically high tax increases in most years. Lawmakers now have one budget to go before Wolf runs up against his constitutionally mandated two-term limit.

Budget done; job creating reforms on deck

Left behind in last week’s approval of the state budget are needed reforms to the business tax and regulatory structure that would help Pennsylvania take full advantage of an unrelenting surge in the nation’s economy. America just broke the record of 120 months of sustained growth thanks to the federal Tax Cuts and Jobs Act of 2017, and massive regulatory reform by the Trump Administration. Pennsylvania is missing out on opportunities, however, as businesses rush back into the country to invest in the substantially improved business climate.

Harrisburg budget choices: more taxes or more jobs

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.

Timmons and Taylor: President’s Tax Plan Will Spur Economy in Pennsylvania and Across the Country

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:

State Government Too Broken For Legislature to Fix

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.