At the launch of the Pittsburgh Executive Speaker Series last Thursday, PA Chamber President and CEO Luke Bernstein discussed Gov. Josh Shapiro’s budget proposal and the PA Chamber’s legislative priorities.

Bernstein pointed to the acceleration of Pennsylvania’s Corporate Net Income Tax (CNIT) reduction as a major highlight. “The biggest headline for businesses is the governor’s proposal to accelerate the Corporate Net Income Tax reduction, lowering our rate to 4.99 percent by 2029—two years ahead of schedule,” he said. While he welcomed this move, he warned that another piece of the plan—shifting to unitary combined reporting—could create a significant burden for multi-state businesses.

“This proposed change would dramatically increase the possible tax liability of companies doing business in multiple states, exposing activities outside of the Commonwealth to additional tax,” Bernstein said. “PA would become a place where you wouldn’t want to keep your headquarters.”

Beyond tax policy, Bernstein highlighted recent wins for the business community, including modernized Net Operating Loss provisions and permitting reforms through the SPEED program. These, he said, have laid a foundation for economic growth, but more work is needed to maintain Pennsylvania’s competitiveness.

The Chamber’s legislative agenda for the 2025-26 session prioritizes tax reform, workforce development, energy policy, and modernizing transportation funding. Bernstein also emphasized the need for legal reforms to curb excessive litigation, which has contributed to Pennsylvania’s ranking by the American Tort Reform Association as one of the nation’s top “Judicial Hellholes.”

The event, hosted in partnership with the Pittsburgh Business Exchange, convened business leaders and policymakers to discuss the state’s economic future. As budget negotiations move forward, Bernstein encouraged continued engagement from the business community.

“This is about making Pennsylvania the best place in the country to do business,” he said.