Pennsylvania’s overall business tax climate improved its ranking from 28th to 24th according to a report from the Tax Foundation that was released in 2016. The Commonwealth now ties Hawaii for the largest leap in the year-over-year ranking. The elimination of the the Capital Stock and Franchise Tax (CSFT) in 2015 was credited for the improved ranking. The GPCC worked with numerous partners across Pennsylvania for more than 15-years to eliminate the CSFT. The Tax Foundation report demonstrates the significance of the phase-out of this uncompetitive tax.
Legislation doubling the cap on the state’s Neighborhood Assistance Program (NAP) from $18 million to $36 million was approved by the PA House Finance Committee in 2016. The NAP tax credit is a key part of the Allegheny Conference’s Strengthening Communities Partnership, which leverages funds to support revitalization efforts in seven communities across the region. A top priority, the GPCC will continue to work to advance efforts to expand the NAP program.
The Pennsylvania House of Representative Select Subcommittee on Technical Education and Career Readiness released its final report on Career and Technical Education (CTE), which included recommendations for how to improve the CTE system in Pennsylvania. Allegheny Conference staff testified at two hearings of the subcommittee and worked closely with members to shape the recommendations that were included in the final report.
Another major GPCC state priority that saw progress in 2016 was state pension reform. Work, however, remains on this vital issue and the GPCC will continue to advocate for meaningful state and municipal pension reform.