North Central PA Times

Rep. Robert Leadbeter of Columbia, alongside the House Republican Policy Committee led by Chairman Josh Kail of Beaver/Washington, initiated the first in a series of hearings focusing on business-related tax reform in Pennsylvania. The session was conducted last Thursday, intending to fuel economic growth within the state.

The hearing, titled "Job-Creating Tax Reform," featured commentary from various industry leaders, including Neal Lesher of the PA Chamber of Business and Industry, Chris Berleth of the Columbia Montour Chamber of Commerce, Carl Marrara from the Pennsylvania Manufacturers Association, and Steve Hall, state tax manager at Arconic.

Leadbeter noted, "A competitive business environment attracts investment, encourages innovation, and stimulates entrepreneurship, all of which are essential for sustained prosperity in Pennsylvania. Unfortunately, Pennsylvania’s taxes are punitive and in serious need of reform."

Participants highlighted the need for a comprehensive tax strategy to assist small businesses and improve Pennsylvania's competitiveness for new enterprises. Legislative amendments to the Corporate Net Income (CNI) Tax and Net Operating Loss (NOL) carryforward deduction were urged. Specifically, the testifiers advocated for an immediate CNI tax reduction and recommended removing the caps on NOL deductions.

Chairman Kail emphasized the importance of economic growth, stating, "I firmly believe in fostering an environment that encourages economic growth and prosperity for the people of Pennsylvania. Making our state business-friendly is not just a goal; it's a fundamental necessity."

The complete hearing can be watched online. The following session is scheduled for Thursday, April 18, at East Donegal Township Building in Marietta, hosted by Rep. Tom Jones.