Pennsylvania Observer

A blog for progressive people in Pennsylvania. Greens, Democrats and others who want to comment on current news items in the Keystone State.

Monday, December 13, 2004

Rendell's Tax Panel: Lower Business Taxes

Rendell's Tax Panel: Lower Business Taxes. Democratic Governor Edward Rendell created a panel to discuss ways to lower taxes on businesses in the Commonwealth. They didn't disappoint him. The Pennsylvania Business Tax Reform Commission reported to Rendell last week and recommended a reduction in the corporate net income tax from 9.99% to 6.99%. Any changes proposed by the panel were supposed to be "revenue neutral," but their recommendations reduce overall revenue by nearly $50 million, and shift the tax burden from larger corporate businesses to small businesses and individuals. It isn't clear whether Rendell will support the panel's package of changes, but the Guv is on record supporting the reduction of the corporate net income tax. You may not like the changes, but at least Rendell is consistent. He signed a 420% increase on taxes on workers into law earlier this month (raising the occupational privilege tax from $10 to $52). Aren't we lucky the Republicans didn't win the Governor's Mansion in 2002?


Post a Comment

<< Home