Media Tags: Taxes State

HARRISBURG – Pennsylvania Chamber of Business and Industry President and CEO Luke Bernstein today issued the following statement following passage of the 2025-2026 state budget and related policies and code bills:

“This budget agreement contains several major victories the business community has long fought to achieve that will enhance our state’s overall economic competitiveness. Meaningful permitting reform is a huge step in the right direction and builds upon last year’s success, while exiting the Regional Greenhouse Gas Initiative (RGGI) will provide much-needed clarity and encourage energy development and investment. This represents important progress for Pennsylvania.

“We also applaud the continuation of additional pro-growth tax provisions, including maintaining the phasedown of Pennsylvania’s corporate net income tax and the gradual increase of net operating loss deduction limits, as well as key investments to support workforce development.

“However, the agreement contains a tax provision that will make Pennsylvania less competitive by discouraging research and development investment into the Commonwealth, though we are encouraged that language was included that requires the Department of Revenue to review the provision’s impact, which should inform policymaking going forward.”

HARRISBURG – The Pennsylvania Chamber of Business and Industry today applauded members of the Senate Finance Committee for advancing two tax reform bills that will enhance the state’s business competitiveness and support economic growth.

Senate Bill 207 accelerates the reduction of Pennsylvania’s Corporate Net Income (CNI) tax rate to four percent by 2026, improving the Commonwealth’s ability to attract investment and create jobs. Separately, Senate Bill 473 restores the vendor discount for businesses that collect and remit sales tax, helping small businesses offset their costs.

“These bills are a win for Pennsylvania’s economy,” PA Chamber Senior Vice President of Government Affairs Alex Halper said. “A lower CNI makes our state more competitive and encourages job growth, while restoring the vendor discount provides much-needed relief for businesses facing rising costs. We urge lawmakers to move swiftly in advancing these commonsense, pro-business reforms.”