During a meeting in the beginning of January, the House Finance Committee advanced a package of bills named, the Small Business Tax Fairness Package, which offers tax breaks for small business.
Rep. Joshua Kail, the prime sponsor of one of the bills, stated, "Something that I have heard from the people coming to my area is that Pennsylvania's Tax Code is really a problem." He noted, "really for me, this is about jobs, its about growth, its about keeping people in Pennsylvania."
However, Minority Chairman Patty Kim remarked, "we are not the same as the federal government... they have the ability to deficit spend while we, by law, have to balance an annual budget." She noted, "there's an estimate, about $500 million, where this will take out of our budget" $500 million. She said, "I think it's responsible for us to realize, you take something out, you put it back in." Rep Kim opposed HB1960, HB105 and HB333, referring to the state Revenue Department’s opposition to the tax bills before the committee as costing a potential $500 million state revenue loss if enacted.
5/18/2023 03:05:48 am
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