The General Assembly is considering two critical pieces of business legislation this week. One is the re-enactment of the Fair Share Act (contained in Senator Corman's bill SB 435) that the courts threw out on procedural grounds this past summer and HB 515 which contains several significant business tax changes. Here is the press release we issued today after we participated in a press conference with many other business supporters on HB 515.
PA Chamber: time is now to improve competitiveness of Commonwealth’s job creators
HARRISBURG, PA -- The Pennsylvania Chamber of Business and Industry today praised pro-jobs lawmakers for their commitment to creating a more competitive business climate in the Commonwealth by advancing needed business tax reforms (H.B. 515), and urged Gov. Ed Rendell to sign the legislation when it reaches his desk.
“Bold changes to the state’s business tax structure are needed to boost job growth, and ensure that jobs created today are here for residents tomorrow and in the future,” said Jim Welty, PA Chamber vice president of legislative and corporate affairs, speaking at a Capitol news conference organized by members of the CompetePA Coalition. “The Senate’s pledge to deliver House Bill 515 to the governor this year sends a message to the state’s job creators that it understands what is needed to support job growth in the long-term.”
Welty said the governor will soon have an opportunity to send a message about his commitment to the Commonwealth’s economic vitality.
“On behalf of our more than 12,000 members, and all job creators in the state, the Chamber urges the governor to support House Bill 515 and give business a framework to be competitive. Pennsylvania consistently lags behind our competitor states. With these tax reforms, the state can start to reverse this trend.”
Welty said establishing a Single Sales Factor for Corporate Net Income tax apportionment; raising the cap on Net Operating Losses; and reducing the Personal Income Tax are steps in the right direction toward giving businesses large and small the ability to grow and prosper.
Improving Pennsylvania’s business tax structure is a priority for the PA Chamber, and is a key component of its members’ Agenda for Jobs, a plan developed by job creators for job creation.
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