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Saturday, November 23, 2024

House committee begins hearings on proposed historic tax cuts

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State Rep. Josh Kail | Pennsylvania 15th Legislative District

State Rep. Josh Kail | Pennsylvania 15th Legislative District

On June 11, 2024, the House Republican Policy Committee, chaired by Josh Kail (R-Beaver/Washington), held the first in a series of hearings to discuss House Bill 2388. This bill proposes returning $3 billion to Pennsylvania residents by reducing the Personal Income Tax (PIT) rate from 3.07% to 2.8% and eliminating the Gross Receipts Tax on electric bills.

The hearing, titled “Historic Tax Cuts,” included testimonies from Sen. Greg Rothman (R-34) and Nathan Benefield, senior vice president of the Commonwealth Foundation. The testifiers addressed concerns about Pennsylvania’s current economic state, highlighting an aging population and a lack of incentives for young workers. Businesses are reportedly relocating to states with more favorable tax environments, while start-ups face challenges due to what was termed as a “start-up penalty.” Inflation has also impacted essential items such as groceries, gas, and electricity.

“We need to get the spending under control,” stated Rothman, who supported Senate Bill 269—Pennsylvania Senate’s counterpart to House Bill 2388. He noted that household incomes and Gross Domestic Product (GDP) have not increased at the same rate as the state budget. Rothman argued that "the best way to give back to people is a broad-based tax cut."

Benefield added that Pennsylvania's reputation for high taxes hinders its competitiveness. He suggested that reducing the PIT rate and eliminating the Gross Receipts Tax would signal that Pennsylvania is open for business, reduce uncertainty for citizens, and position the state as an attractive location for opportunities.

The full hearing can be viewed at pagoppolicy.com/video/policy.

Future hearings in this series will take place on June 17 in Luzerne County; June 18 in Montgomery County; June 20 in Cambria County; and June 21 in Allegheny County.

Representative Josh Kail

15th Legislative District

Pennsylvania House of Representatives

Media Contact: Nancy Nilson

nnilson@pahousegop.com

repkail.com

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