2017-18 PA Budget: Stimulate Small Business Growth to Boost Workers’ Take Home Pay

Date: February 07, 2017

HARRISBURG, PA. (Feb. 7, 2017) – On behalf of the 15,000 small-business members of the Pennsylvania chapter of the National Federation of Independent Business (NFIB), Executive State Director Kevin Shivers issued the following statement in response to Gov. Tom Wolf’s 2017-18 state budget plan:

“There are almost 1 million small businesses in Pennsylvania. Imagine how powerful our state economy would be if each of those firms could hire just one new worker. Imagine the revenue boost to state coffers if 1 million new workers were earning wages.

“Pennsylvania’s economy is in a funk. Our unemployment rate has soared past the national average and job growth nationally is running at twice the rate as it is here in Pennsylvania. The governor was right to trim some special tax breaks and “corporate welfare,” which let politicians in Harrisburg decide the economic winners and losers. There is no reason companies earning $1 billion in sales should receive taxpayer subsidies.

“At the same time, imposing higher mandated wages dramatically raise the cost of doing business for small employers. Several provisions in the governor’s plan also punish companies that do their best to weather economic downturns and make it even harder for them to return to profitability. Pennsylvania would be one of the only states in the nation to prevent companies to carry forward losses. New taxes on business operations, like computer programming and on firms that store inventory only would raise uncertainty and make it less likely that small companies would want to expand or hire in Pennsylvania.

“Over the next 10 years, the retired population in Pennsylvania will grow by almost 600,000. At the same time the number of working-age Pennsylvanians will drop by over 180,000.  We have a jobs problem.

“Our window to act is quickly closing.  Let’s work now to simplify the tax code, reduce paperwork burdens, cut red-tape and expedite permits. These are best ways to level the private-sector playing field and spur business and jobs growth.

“While pension reform was not included in the Governor’s proposal, we hope the final plan in June would address that state’s number one cost driver.”

 

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