THE GENERAL ASSEMBLY OF PENNSYLVANIA

HOUSE RESOLUTION

INTRODUCED BY CONKLIN, BRADFORD, CALTAGIRONE, DALEY, DeLUCA, FABRIZIO, GEIST, GIBBONS, GOODMAN, HARHART, HARKINS, KOTIK, MARSICO, MIRABITO, MURT, PETRARCA AND READSHAW, MAY 14, 2012

REFERRED TO COMMITTEE ON FINANCE, MAY 14, 2012  

A RESOLUTION

Directing the Legislative Budget and Finance Committee to

conduct a study of the feasibility of lowering the corporate

net income tax to 4.99% and its impact on the economy of the

Commonwealth.

WHEREAS, A fair rate of taxation is essential to maintaining

a robust economy and funding government operations; and

WHEREAS, In their final report, the Pennsylvania Business Tax

Reform Commission stated that the corporate net income tax "is

so high that it discourages both new economic development and

the expansion of existing Pennsylvania businesses"; and

WHEREAS, Despite positive signs of burgeoning recovery from

the recent worldwide economic downturn, public servants must

remain vigilant in determining the appropriate balance of

revenue generation while fostering an attractive business

environment; therefore be it

RESOLVED, That the House of Representatives direct the

Legislative Budget and Finance Committee to conduct a

comprehensive study of the feasibility of lowering the corporate

net income tax to 4.99% and its impact on the economy of the

Commonwealth; and be it further

RESOLVED, That the Legislative Budget and Finance Committee

determine if, along with a reduction of the corporate net income

tax to 4.99%, any changes to law, regulation or policy are

needed to achieve the desired results of improving the economy

of the Commonwealth; and be it further

RESOLVED, That the Legislative Budget and Finance Committee

prepare a report of its findings and transmit copies of the

report to the Commerce Committee, the Finance Committee and the

Appropriations Committee of the House of Representatives no

later than six months after adoption of this resolution.