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05/16/2022 03:51 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20210&cosponId=35911
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House of Representatives
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted: June 21, 2021 06:38 PM
From: Representative Christopher M. Rabb and Rep. Elizabeth Fiedler, Rep. Sara Innamorato, Rep. Summer Lee, Rep. Rick Krajewski
To: All House members
Subject: Establishing A Fair Share Tax Plan
 
It’s time we made crucial changes to rectify Pennsylvania’s long-standing tax code that forces working-class families pay more in taxes than the wealthy.
 
It’s time Pennsylvania to have a tax system that forces the ultra-rich pay their fair share to support investments to remove lead pipes, invest in clean energy, and support child and senior care programs.
The Fair Share Tax Plan can raise $6.09 billion a year by increasing taxes on income from wealth to 12% and decreasing tax on income from wages and interest to 1.9%.
Passive income from net profits, dividends, net gains derived from rents, royalties, patents and copyrights, gambling and lottery winnings and net gains derived through estates and trust would see an increase to 6.5 percent. As a result, 84 percent of Pennsylvanians would see either a decrease or no change in their taxes due to the state.

As taxation stands in the Commonwealth, it continues to place a greater burden on the most financially vulnerable citizens. This solution will both reduce the overall budget deficit as well as provide relief to millions of Pennsylvania families.

Please join us in co-sponsoring this important legislation.