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PA Chamber, AFP Launch Joint Campaign to Support Small Business Tax Relief

HARRISBURG – In recognition of National Small Business Week, the Pennsylvania Chamber of Business and Industry and Americans for Prosperity Pennsylvania today launched a joint campaign urging Congress to make permanent the small business provisions of the 2017 Tax Cuts and Jobs Act (TCJA), which are set to expire at the end of this year.

The TCJA permanently reduced the federal corporate tax rate from 35 percent to 21 percent and included several provisions that benefit small businesses — most notably, a 20 percent deduction for qualified business income (QBI) for pass-through businesses, known as Section 199A.

 

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This deduction has allowed millions of small business owners to reduce their tax liability and reinvest in their operations, employees and communities. The law also expanded research and development tax credits and improved asset depreciation and business expensing — all of which are set to sunset at the end of this year unless Congress votes to extend them.

“Pennsylvanians are counting on Congress to deliver a win by extending the Tax Cuts and Jobs Act of 2017,” said AFP Pennsylvania State Director Emily Greene. “If our delegation doesn’t act, taxpayers will face an average increase of more than $2,300 per year. After four years of record-high inflation, we simply cannot afford to pay more.”

“Here’s the good news: Congress can prevent this tax hike by extending key provisions of the TCJA, allowing taxpayers and business owners to continue to thrive,” Greene said. “We’re encouraging Pennsylvanians to take action today by visiting ProtectProsperity.com, where they can see how these tax changes would impact them.”

“Failing to renew these tax provisions would deal a serious blow to Pennsylvania’s economic competitiveness,” said PA Chamber President & CEO Luke Bernstein. “Small businesses across the Commonwealth are already navigating workforce shortages and dramatically higher costs compared to 2017. The last thing they need now is a higher tax burden that makes it harder to hire, invest and grow. We have an opportunity — and a responsibility — to come together and give small business owners the certainty they need to succeed.”

As part of the campaign, the PA Chamber and AFP will release a series of videos highlighting the voices of business leaders, taxpayers and policymakers who support extending these policies.

This effort is an extension of AFP’s $20 million nationwide campaign in support of the TCJA — the single largest investment of any outside, limited-government conservative organization toward protecting the pro-business tax provisions.

Congressman Glenn “GT” Thompson Delivers Energy Update

Congressman Glenn “GT” Thompson (PA-15) was the featured speaker during a virtual meeting last Tuesday in which he shared new developments in federal energy policy with PA Chamber members and industry stakeholders.

In his update, Congressman Thompson, who chairs the powerful House Agriculture Committee, underscored energy’s significance in shaping the state’s past, present, and future. He referenced the world’s first- and longest- continuously operating commercial oil wells, both of which are in Pennsylvania’s north-central based 15th District.

Pennsylvania’s energy sector supports more than 420,000 jobs and contributes more than $75 billion to the state economy. In addition to its direct economic impact, Thompson also highlighted the importance of reliable, low-cost energy for heating homes, powering businesses, and generating tax revenue.

Congressman Thompson criticized the Biden administration’s energy policies as a major driver of inflation and cited several pieces of legislation he and his colleagues have advanced to reduce costs for American families and advance domestic energy production, including H.R. 1.

“By utilizing the Commonwealth’s resources, we can create jobs and create opportunities in communities that are suffering under these anti-energy policies,” Thompson said. He also spoke about additional measures aimed at reducing bureaucratic hurdles in approving critical energy projects while maintaining key safety and environmental standards.

Congressman Thompson outlined several updates to the National Environmental Policy Act (NEPA) that were recently signed into law as part of the Fiscal Responsibility Act, following negotiations over the federal debt ceiling. Among these reforms, Thompson said, are provisions eliminating burdensome reporting requirements and establishing clearer chains-of-command when multiple federal agencies are involved in the same project.

Thompson’s update also covered topics ranging from hydrogen hubs to rural broadband, emphasizing the need for proactive policies to harness Pennsylvania’s energy resources.

Answering a query from the PA Manufacturer’s Association on the Biden administration’s plans to ban liquid natural gas (LNG) transit by rail, Congressman Thompson voiced concerns about the potential impact such a measure would have on American families, employers, and jobs. He pointed to Congress’ annual appropriations process as a source of leverage against harmful executive branch proposals.