Jan. 06, 2016
HARRISBURG – Rep. Jason Ortitay (R-Washington/Allegheny) today introduced legislation to reduce the state’s Corporate Net Income Tax (CNIT) rate, which is currently the second highest in the nation. The incremental change would make Pennsylvania more competitive in the national and global marketplace.
“By lowering the state’s crippling CNIT, we will attract new job creators to come to Pennsylvania and also encourage those already here to stay, grow and hire more people,” Ortitay said. “This is about investing in the Commonwealth’s economy and creating job opportunities.”
With a current CNIT of 9.99 percent, Pennsylvania is at a disadvantage when looking to attract new jobs and also keep existing businesses within state borders. Ortitay’s legislation,
House Bill 1780, would gradually reduce the CNIT over a five-year period to a much more competitive 4.99 percent. The reduction would take place at a rate of 1 percent per year.
“Instead of picking winners and losers and using tax dollars for corporate welfare, we should be leveling the playing field and allowing capitalism to do what it does best: create jobs,” Ortitay said. “New revenue for the state should be the result of a healthy economy, not burdensome taxes on job creators or higher taxes on working Pennsylvanians.”
At the time of its introduction, the legislation had already received bipartisan support in the House with more than 31 co-sponsors.
“Pennsylvania’s greatest resource is our workforce,” Ortitay said. “But without job opportunities and with a sluggish economy, we will continue to lose that resource to other states at an unacceptable rate.”
Representative Jason Ortitay
46th Legislative District
Pennsylvania House of Representatives
Media Contact: Morgan Wagner
717.260.6281
mwagner@pahousegop.com
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