HARRISBURG –The Pennsylvania Chamber of Business and Industry today issued the following statement on the enactment of Pennsylvania’s Fiscal Year 2026-27 budget: “State budgets are an opportunity to make Pennsylvania more competitive, and we appreciate elements of this budget that continue the Commonwealth’s commitment to improving its business climate,” PA Chamber President and CEO Luke Bernstein said. “For example, continuing to reduce the Corporate Net Income Tax rate and increasing Net Operating Loss deduction limits are important reforms that send the right message to employers making long-term investment decisions. These policies help position Pennsylvania to compete more effectively for jobs, capital investment, and economic growth, and we thank the General Assembly and Gov. Josh Shapiro for maintaining these commitments. Our improved tax climate, bipartisan permitting reform, and other pro-growth measures passed in recent years have catalyzed billions in new private sector investment across the Commonwealth and we must continue advancing a competitiveness agenda for Pennsylvania to reach its full potential. “At the same time, Pennsylvania’s long-term competitiveness depends on maintaining a strong fiscal foundation. As policymakers look ahead, we encourage focus on responsible state spending and continued support for pro-growth policies that expand the economy, attract investment, and create opportunities across the Commonwealth. Economic growth remains the most effective path to strengthening both Pennsylvania’s fiscal health and its future competitiveness.” The $50.8 billion state budget represents a 3.7 percent increase from last year. It does not include any tax increases or new revenue sources, and leaves untouched the state’s $8 billion Rainy Day Fund. The PA Chamber will continue working with policymakers to advance policies that strengthen Pennsylvania’s competitiveness, promote private-sector investment, and create the conditions for sustained economic growth.