|Posted:||December 7, 2020 11:04 AM|
|From:||Senator Bob Mensch|
|To:||All Senate members|
|Subject:||Jobs Initiative Package|
|In the near future, I will be reintroducing a series of bills to enable the creation of new, family-sustaining jobs for Pennsylvanians, and to help protect our existing jobs.
Pennsylvania has one of the most oppressive business tax structures in the nation. Some will argue that businesses should pay more, but the larger question is how are jobs created? They are created primarily through businesses. A thriving business community leads to competition and expansion, which in turn leads to increased employment opportunities.
So often we seek punish businesses because it seems to be the political thing to do. But at the end of the day, by punishing businesses, we also punish residents, taxpayers and employees.
For years I’ve argued that our deficits, along with our budget stalemates, are predictable given the lack of growth in the PA economy. Couple that with the recent halt to our economy caused by the COVID-19 Pandemic, it is essential that we focus on our state’s economic growth.
Therefore, now is not the time to protect the status quo. Rather, it is the time to take a bold step forward in establishing Pennsylvania as pro-business and pro-jobs. I hope you will join me in co-sponsoring this series of bills so we can move Pennsylvania in the right direction.
If you have any questions please contact David Kozak from my office at 717-787-3110.
Introduced as SB720
|Description:||This legislation will reduce the Personal Income Tax (PIT) to 2.99 percent.|
Introduced as SB721
|Description:||This Legislation will reduce the Corporate Net Income (CNI) Tax Rate to 8.99 percent in FY 2020-21, 7.99 percent in FY21-22, 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.|
Introduced as SB722
Introduced as SB723