HARRISBURG – Pennsylvania Chamber of Business and Industry President and CEO Gene Barr issued the following statement in response to Gov. Tom Wolf’s 2022-23 budget proposal.
“Governor Wolf’s final budget proposal comes at a time when higher than anticipated revenue collections and an influx of billions of dollars in unspent coronavirus relief funding should be used to strategically invest in pro-growth initiatives that will benefit the state’s employers and all Pennsylvanians as we continue to emerge from the pandemic.
“The PA Chamber applauds Gov. Wolf’s proposal to reduce the state’s Corporate Net Income Tax rate, which is the second-highest flat rate in the nation and a major red flag to potential investors. Our excessively high CNI rate was certainly a major factor in PA failing to get any consideration for the $20 billion investment that Intel announced for Ohio. This comes on the heels of PA’s failure to attract two major steel manufacturing facilities – each one being a $1 billion investment – that were not made in PA due to the CNI and excessive regulatory cost. We encourage lawmakers to stay true to the principles of competitiveness, fairness, and predictability and advance substantial, long-overdue tax reform for businesses of all sizes. We are also urging policymakers to address the Commonwealth’s unemployment compensation debt head-on, thereby avoiding a tax increase on all of the state’s job creators.
“We appreciate Gov. Wolf’s focus on helping low-income families. Rather than simply raising the minimum wage, we urge a more modern and strategic approach to target support to the less than 1 percent of Pennsylvania workers who are low-income minimum wage earners.
“The PA Chamber is committed to advancing policies that will help employers as they emerge from the pandemic, encourage them to invest and create jobs here and attract new and emerging industries to the Commonwealth. The PA Chamber will continue to work with lawmakers to pursue a public policy agenda to advance our state’s competitiveness through tax reform; workforce development and career readiness; flexibility in energy markets; balanced labor laws; and responsible state spending.”