|Posted:||December 2, 2016 01:32 PM|
|From:||Senator Michele Brooks|
|To:||All Senate members|
|Subject:||Corporate Tax Reform|
|In the near future, I plan to re-introduce legislation amending the Tax Reform Code of 1971 to reduce the Corporate Net Income Tax rate.
My legislation will reduce the Corporate Net Income Tax from its current rate of 9.99 percent by 0.5 percent every year over a period of six years starting in 2018. The rate will reach 6.99 percent in 2023 and remain at that level thereafter.
Taking this step in improving Pennsylvania’s business tax climate will provide businesses an incentive to locate or remain in Pennsylvania and the tax relief they need to increase the number of jobs and spur Pennsylvania’s economy.
This legislation was Senate Bill 443 of last session and co-sponsors were Senators Aument, Bartolotta, Boscola, Browne, Folmer, Hutchinson, Pileggi, Rafferty, Stefano, Vogel, Vulakovich, Wagner, Ward, and White.
Introduced as SB505