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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | January 11, 2013 11:49 AM |
|---|---|
| From: | Representative Michele Brooks |
| To: | All House members |
| Subject: | Corporate Tax Reform (Prior HB 514) |
| In the near future, I plan to reintroduce legislation of vital importance to Pennsylvania's business community and the Commonwealth's business tax climate. My legislation will amend the Tax Reform Code of 1971 to reduce the Corporate Net Income Tax rate over the next two taxable years. On November 30, 2004, the Pennsylvania Business Tax Reform Commission issued their final report to the Governor and the General Assembly. One of the Commission's recommendations was to reduce the Commonwealth's Corporate Net Income tax rate. As part of the 2006-2007 annual budget, the Commonwealth of Pennsylvania enacted legislation that began to move Pennsylvania in the direction of this recommendation. Nonetheless, we cannot stop taking steps in the right direction on business tax reform. The business community and most observers will even concede that they do not expect swift enactment of the comprehensive recommendations issued by the Business Tax Reform Commission. However, they do expect Pennsylvania to, at a minimum, continue to move in the right direction on business tax reform. My legislation will enable the Commonwealth of Pennsylvania to take the next step in the right direction. My legislation will reduce the Corporate Net Income tax rate to 8.49% for the taxable year beginning January 1, 2013 and ending December 31, 2013 and further reduces the rate to 6.99% beginning January 1, 2014 and for each taxable year 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. Please join me in bringing jobs to Pennsylvania by improving the Commonwealth's business tax climate. Previous cosponsors: BENNINGHOFF , ADOLPH , AUMENT, BAKER , BARRAR , BEAR , BLOOM, BOBACK , BOYD , CALTAGIRONE , CAUSER , CHRISTIANA, CLYMER , COX , CUTLER , DENLINGER , ELLIS , EVERETT , FLECK , GABLER, GEIST , GIBBONS , GINGRICH , GODSHALL , GROVE, HARHART , HARRIS , HELM , HESS , HICKERNELL , HORNAMAN , HUTCHINSON , KAUFFMAN , M. K. KELLER , KRIEGER, MAJOR , MARSHALL , MARSICO , METCALFE , MILLARD , MULLERY, MUSTIO , OBERLANDER, PEIFER , PETRARCA , PICKETT , PYLE , QUIGLEY , RAPP , READSHAW , REED , REICHLEY , ROAE , SAYLOR , SCAVELLO , SCHRODER , SIMMONS, SONNEY , STEPHENS, STERN , STEVENSON , SWANGER , TALLMAN, TOEPEL, VULAKOVICH , WATSON , KORTZ , J. EVANS , MILLER , GILLEN, MILNE , TRUITT, MIRABITO, MOUL and FARRY |
Introduced as HB1066