Last Thursday, PA Chamber Vice President of Government Affairs Alex Halper participated in a bipartisan economic summit organized by members of the Pennsylvania General Assembly’s York County delegation. Organized as a series of panel discussions, the event hosted officials from several leading industry groups to review state and local economic trends and offer their insights.
Lawmakers present included State Representatives Seth Grove, Joe D’Orsie, Kate Klunk, Dawn Keefer, Wendy Fink, Mike Jones, and Carol Hill-Evans. Staff representatives from the offices of Senators Kristen Phillips-Hill and Mike Regan were also in attendance.
Halper’s panel focused on the legislative and regulatory changes that can be implemented at the state level to positively impact job creation and economic development in Pennsylvania. Other panelists included Tom Palisin, Executive Director of the Manufacturer’s Association and Greg Moreland, State Director for the National Federation of Independent Businesses.
Halper shared the PA Chamber’s comprehensive set of state-level tax and regulatory reforms aimed at fueling economic growth while making Pennsylvania more competitive for business. He mentioned the nearly 40,000 workers who left the Commonwealth for more business-friendly states last year, arguing these reforms will help reverse this trend and attract new investment.
Following the historic bipartisan passage of Act 53 last session, Pennsylvania’s corporate net income tax rate has been reduced from 9.99 percent (the second-highest in the nation) to 8.99 percent at the start of the year, and will continue to drop by 0.5 annually until it reaches 4.99 percent in the year 2031.
Halper identified legislation to accelerate the phasedown of the corporate net income tax rate, as well as a separate proposal to improve the treatment of net operating losses, as key policy priorities that employers want to see lawmakers act on this fall.
He also reaffirmed the PA Chamber’s support for legislation to modernize and streamline the process of applying for and receiving state permits, as well as a suite of proposals to bolster Pennsylvania’s workforce development efforts and address barriers to employment.
“We have a real opportunity with this upcoming fall session to continue making progress on pro-business policies that are going to move our state forward,” Halper told lawmakers. “Pennsylvania needs to become more competitive, and the way we accomplish that is by making it easier and more affordable for companies to do business in the Commonwealth.”
For more information on the PA Chamber’s economic development priorities, please click here