The Senate Finance Committee voted in favor of legislation last week that aims to better help lawmakers understand the economic ramifications of proposed legislation.
House Bill 230 would require the state’s Independent Fiscal Office, upon the request of a member of the General Assembly, to conduct a dynamic scoring analysis of the fiscal impact of any proposed legislation that could have an impact in excess of $10 million. The analysis would include information on the probable behavioral responses to the proposed changes by taxpayers, businesses and other persons. The PA Chamber supports this good government measure as one that will help lawmakers make more informed decisions when casting their vote on legislation that could have far-reaching economic impacts. This is especially critical at a time of economic uncertainty, when public policy should strive to make the Commonwealth more welcoming to employers and encourage private sector investment.
The legislation, which passed the House earlier this month, now awaits further consideration by the full Senate.