Executive Policy Summary

Incentive Tax Credits for Businesses who Employ Underprivileged Youth

The Chamber is currently working with State Representatives Josh Shapiro (D-Montgomery) and John Taylor (R-Philadelphia) to reintroduce HB 3031 from last session.  This measure would offer a state tax credit to businesses who provide paid summer internships to at-risk youth.  In working to build upon the bi-partisan coalition of support for the effort, the Chamber has also been meeting with Rendell Administration officials and members of the State Senate to refine provisions of the bill.  Final language will be developed in the coming weeks.

Chamber Responds to Gov. Rendell’s ’07-08 Budget and Tax Plan

In announcing his 2007-2008 budget and tax plan, Governor Rendell has addressed many of the issues that are important to the business community; especially efforts to address safe and reliable transportation, affordable health care and the gun violence that is affecting so many communities.

We are pleased that in this budget, the Administration plans to continue the phase-out of the onerous Capital Stock and Franchise tax.  We are disappointed, however, that at first read it appears that the Governor has not continued efforts to address aspects of Pennsylvania's uncompetitive Corporate Net Income tax. 

The Chamber is also pleased that the state's transportation funding crisis received considerable focus during the budget address as Gov. Rendell proposed to fund $1.7 billion in needed transportation repairs and investment. 

Additional property tax relief, energy reforms, new educational programs, and many other initiatives contained in this budget will require several new and increased taxes on employers and consumers in Pennsylvania.

As the Legislature begins its review of the Governor's proposed budget, the Chamber will initiate an active dialogue with our members and our elected representatives as we work to carefully weigh the impact and benefits of each of the proposed taxes and programs.

For more information on the Governor’s Budget and tax plan click here.

Chamber Responds to Mayor Street’s Proposed FY ‘08 Budget

Mayor Street has addressed several areas of interest to the business community in his proposed FY ‘08 budget. 

The Chamber is pleased that the Mayor proposes that the Business Privilege Tax and city wage tax will continue to decrease.

We are also pleased that in the Mayor’s Five Year Plan, he proposes financial support for the expansion of the Pennsylvania Convention Center because we believe this expansion is vital for the region to compete as a convention destination.

We note that the Mayor recognizes Select Greater Philadelphia for its contribution to regional economic development and we are pleased that he calls for Philadelphia to partner with the surrounding counties in Southeastern Pennsylvania, Southern New Jersey and Northern Delaware. In order to be successful, Greater Philadelphia must compete as one unit with the rest of the nation and the world.