Eliminate the Pennsylvania Startup Penalty!
NFIB recently hosted a press conference calling for the elimination of the Pennsylvania startup penalty. State Director Greg Moreland was joined on the Capitol steps by Senator Ryan Aument, Senator Tracy Pennycuick, Senator Kristin Phillips-Hill, Senator Greg Rothman, and Senator Judy Ward. Legislation discussed included authorizing the use of net operating losses for small businesses, increasing the cap on net operating losses from 40 to 80 percent, permitting reform, additional response time to ADA website compliance claims, and authorizing an optional SALT cap workaround.
Click here to watch the press conference: 04.08.24 Eliminating the PA Startup Penalty (youtube.com)
House Policy Committee Hearing: Small Business Tax Fairness
Last week, Assistant State Director Melissa Morgan testified before the House Republican Policy Committee on Small Business Tax Fairness. Morgan discussed NFIB’s legislative priorities including allowing small businesses to utilize net operating losses, repealing accelerated sales tax prepayments, and lowering the personal income tax.
She explained that small businesses are critically important to Pennsylvania’s economy and are the backbone of your local communities: “However, the Commonwealth’s burdensome system of taxation continues to hinder the competitiveness of businesses located here. A lower tax burden means more resources are available for a business owner to invest in their employees and grow the business by creating more jobs. Small business owners often purchase more equipment when taxes are lower, and this boosts the surrounding economies,” said Morgan.
The committee was very appreciative of NFIB’s work on behalf of the small business community and pledged to work on getting these important small business reforms through the legislative process.
Click here to watch the committee hearing: Policy | PA House Republican Policy Committee (pagoppolicy.com)
