|Posted:||December 20, 2016 03:04 PM|
|From:||Senator Bob Mensch|
|To:||All Senate members|
|Subject:||Jobs Initative Package|
|I am re-introducing a series of bills from last session that are aimed at moving the Commonwealth forward through this tough economy by enabling the creation of new jobs for Pennsylvanians, and to help protect our existing jobs.
Reforming the single sales factor was an excellent beginning but we need to remain focused on solutions to turning this economy around and not just the immediate impact of the financial crisis we are facing. Pennsylvania's tax policies have severally hurt job growth and rendered us uncompetitive even in good economic times. Now is not the time to protect the status quo but to take a bold step in establishing Pennsylvania as pro-business and pro-jobs. If you have any questions please call Bill Joraskie at 717-787-3110.
Introduced as SB513
|Description:||This legislation will reduce the Personal Income Tax (PIT) to 2.99 percent.
It was Senate Bill 596 of last session and co-sponsors were Bartolotta, Greenleaf, Browne, Vulakovich, Ward, Yaw, Vogel, Stefano, Folmer, White, Aument, Hutchinson, Brooks and Wagner
Introduced as SB514
|Description:||This Legislation will reduce the Corporate Net Income (CNI) Tax Rate to 8.99 percent in FY 2017-18, 7.99 percent in 2018-19, and 6.99 percent thereafter. Pennsylvania continues to rank as one of the highest CNIs not only among U.S. states, but also among nations against which the Commonwealth also competes for jobs.
It was Senate Bill 597 of last session and co-sponsors were Bartolotta, Greenleaf, Vulakovich, Yaw, Gordner, Vogel, Stefano, Folmer, Boscola, White, Aument, Hutchinson, Brooks and Wagner.
Introduced as SB515
|Description:||This legislation will uncap the Net Operating Loss (NOL) Carryforward. This will encourage new capital investment in our state, and will create new jobs.
It was Senate Bill 598 of last session and was passed out of the Senate Finance Committee by a unanimous vote. Co-sponsors were Bartolotta, Greenleaf, Browne, Vulakovich, Ward, Yaw, Gordner, Vogel, Stefano, Folmer, Boscola, White, Brooks, Wagner and Scavello.
Introduced as SB516
|Description:||This legislation will establish a Career Development Credit program to credit a percentage of qualified employer costs for training employees and upgrading their skills against Pennsylvania corporate and income tax liability. The program is capped at $20 million per year, and funded through state dollars already being spent on workforce development in the Commonwealth. There are 18 other state with a job training tax credit.
It was Senate Bill 599 of last session and co-sponsors were Bartolotta, Greenleaf, Vulakovich, Yaw, Gordner, Vogel, Stefano, Schwank, Boscola, White and Brooks.