Legislation Quick Search
07/05/2022 11:11 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20150&cosponId=16275
Share:
Home / House Co-Sponsorship Memoranda

House Co-Sponsorship Memoranda

Subscribe to PaLegis Notifications
NEW!

Subscribe to receive notifications of new Co-Sponsorship Memos circulated

By Member | By Date | Keyword Search


House of Representatives
Session of 2015 - 2016 Regular Session

MEMORANDUM

Posted: December 30, 2014 01:56 PM
From: Representative Seth M. Grove
To: All House members
Subject: Reducing the Corporate Net Income Tax
 
In the near future I plan to introduce legislation, which would create a path to prosperity by spurring economic growth and creating more Pennsylvanian jobs. My legislation would reduce Pennsylvania’s Corporate Net Income Tax (CNI) from 9.99%, which is one of the highest in the nation. Replacing this rate would be a competitive rate of 6.49%.

By lowering our corporate tax rate, job creators operating within Pennsylvania will begin to expand their business and hire more workers. Pennsylvania has already seen this happen; as the elimination of the Capital Stock and Franchise Tax saw the commonwealth lose $300 million in revenue. Over the same period of time Pennsylvania saw revenue collected by the CNI increase by $800 million while the revenue from the Personal Income Tax increased by over $1 billion. The increases in revenue came from economic growth; as companies expanding and additional Pennsylvanian jobs were created.

This legislation would accomplish similar economic growth by creating a friendlier environment through a more competitive business tax rate. Please join me and cosponsor this legislation. If you have any questions please contact Jordan Grant at 717-767-3947 or Jgrant@pahousegop.com

View Attachment


Introduced as HB174