Posted: | March 31, 2020 08:53 AM |
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From: | Senator James R. Brewster |
To: | All Senate members |
Subject: | Exempt funding to individuals under CARES Act from state and local taxation |
In the near future, I plan on introducing legislation to except funding that individuals receive from the U.S. Government as a result of the recently enacted federal CARES Act from state and local taxation. The U.S. Congress took sweeping action last week to provide the U.S. economy a shit in the arm during these difficult times. Included in that action were provisions that would provide a cash payment for those making $98,000 or less. While Congress exempted the payments from federal taxes, it is up to Pennsylvania to decide whether the stimulus payments are taxed under our law. My proposal would ensure that these payments are exempt from both state and local taxes. In these trying times, individuals should be able to use their payment to buy food, pay for medication or rent or mortgages, not worrying about saving a portion to pay taxes. Please join me in sponsoring this legislation. |
Introduced as SB1104