House Republicans eye tax credit, permit relief bills for fall passage

House Republicans eye tax credit, permit relief bills for fall passage

Gov. Tom Wolf has spent a considerable amount of time this year pitching his plan to “restore” Pennsylvania through revenue from a shale gas tax, but House Republicans who stand in the way of Wolf’s proposal see a different path forward — one that attracts energy sector jobs to Pennsylvania through tax credits and permitting relief.

 

GOP lawmakers on Wednesday reiterated their desire to pass the “Energize PA” package helmed by House Speaker Mike Turzai (R-Allegheny), which is designed to be a catalyst for job creation in the state.

Wednesday, September 18, 2019/Author: Justin Sweitzer
Categories: News and Views
Closing the loophole: Why some businesses pay less in corporate taxes and how Democrats want to fix it

Closing the loophole: Why some businesses pay less in corporate taxes and how Democrats want to fix it

Currently, businesses and corporations in Pennsylvania can shift their earnings to states with lighter tax burdens to pay less in corporate net income taxes.

 

It’s a strategy that is commonly referred to as the “Delaware loophole” since Delaware does not levy a corporate net income tax on business subsidiaries holding intangible assets. This allows multi-state businesses to transfer money to their Delaware-based subsidiary through transactions and other maneuvers to avoid paying the CNIT in other states, including Pennsylvania.

Wednesday, July 17, 2019/Author: Justin Sweitzer
Categories: News and Views
Progressives call on lawmakers to 'tax the rich'

Progressives call on lawmakers to 'tax the rich'

On Tuesday, a small but vocal group of liberal activists gathered on the steps of the Capitol to advocate for an idea that they believe will improve Pennsylvania’s economic standing — they want to tax the rich.

 

As part of a nationwide “Tax The Rich” bus tour, progressive groups Tax March and MAYDAY America brought their traveling tour to Harrisburg, where they stumped for policies that would raise revenue by increasing taxes on Pennsylvania’s wealthiest citizens and corporations.

Wednesday, July 10, 2019/Author: Justin Sweitzer
Categories: News and Views
IFO predicts nearly $2 billion budget hole for next year, complicating budget picture

IFO predicts nearly $2 billion budget hole for next year, complicating budget picture

The Independent Fiscal Office latest numbers project a $1.7 billion deficit, a report that new Democratic fiscal chief Rep. Matt Bradford (D-Montgomery) would have preferred not to have seen.

“I only read good news,” he joked.

But the Minority Appropriations Committee Chair will likely be hearing a lot about that total over the next few months, as the General Assembly turns the page from the smooth election year budgeting of this year to 2019.

Wednesday, December 5, 2018/Author: Stephen Caruso
Categories: News and Views
Lawmaker floats proposal to lower state’s personal income tax rate

Lawmaker floats proposal to lower state’s personal income tax rate

Hoping to boost the rate of Pennsylvania’s economic growth, Rep. Jason Ortitay (R-Washington) recently floated a proposal to lower the commonwealth’s personal income tax (PIT) rate from 3.07 percent to 2.82 percent.

 

The proposal comes on the heels of recently enacted federal tax reform that sought to cut taxes for the majority of Americans and spur economic growth, but was also projected to grow the national deficit.

Monday, January 8, 2018/Author: Jason Gottesman
Categories: News and Views
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