Josh Shapiro tells Pittsburgh his 'business-friendly' administration would slash corporate tax

[FakeNoose]

(link) https://www.post-gazette.com/news/politics-state/2022/07/27/josh-shapiro-pittsburgh-visit-business-friendly-government-slash-corporate-tax-elected-governor-robotics/stories/202207270127

In a visit with leaders of Pittsburgh’s robotics industry on Wednesday, Josh Shapiro said he will usher in a “customer service-oriented, business-friendly government” and work to cut the corporate net income tax to among the lowest in the nation if he’s elected in November.

Mr. Shapiro, the Democrat who is facing Republican Doug Mastriano in the gubernatorial race, said that in order to attract new businesses to Pennsylvania and keep businesses from leaving to other states, it’ll take fostering an economic climate that allows them to grow. He unveiled his economic plan this week, which he says aims to lower taxes, spur innovation and cut red tape.

His visit to Pittsburgh Robotics Network in Lawrenceville came as the country continues to battle rising costs and high inflation, putting Democratic leaders on the defensive over the record of President Joe Biden’s administration. Mr. Shapiro acknowledged that businesses and workers are struggling and said the state can learn a thing or two from Pittsburgh if it wants to be a leader in the new economy.

Mr. Shapiro proposed cutting the corporate net income tax to 4% by 2025, a significantly quicker timeframe than the state is currently on. He said the current tax rate at 9.99% — the second highest in the U.S. — “holds many businesses back.”

- more at link -

[Maggiemayhem]

1. They ought to cut the real estate taxes.

Their locality taxes and real estates really hurt regular people.

[jimfields33]

2. I'm not sure the governor can control that.

I am surprised that more corporate relief is being offered. I thought we wanted to tax then more.

[MontanaFarmer]

4. It's the world we live in IMO.

If you want, as a state, to compete with the texas, Florida, carolina explosive growth you must be willing to try to accommodate business to some degree.

[The Jungle 1]

6. In Pa we lead the nation in socialist corporate welfare

https://www.commonwealthfoundation.org/2016/03/02/were-1-pa-leads-nation-in-corporate-welfare/
We lag the nation in job creation! We are 27th.
We have the highest fuel tax in the nation. We have the most expensive toll road in the world. Pa Turnpike.
I support and will vote for Josh!!! He has my support for most issues but not this one.

[The Jungle 1]

7. The property tax system in Pa is hopelessly corrupt.

Bucks county has not had a property reassessment in over 60 years. Just imagine how low your taxes are if you have a 60 year old assessment!!!
Here is a real estate secret. Buy a rental unit with a 60 year old assessment. Free money.

[Phoenix61]

9. I'm surprised the sale doesn't trigger a new assessment. nt

[The Jungle 1]

10. That is not how it works in Pa.

At sale would seem reasonable.

[3Hotdogs]

3. Slash corporate tax.

And guess who pays to make up the lost revenue.

Ok. I'll give you one more guess.

Can't guess? Look in the mirror.

[The Jungle 1]

5. I will still vote for him however we part ways on this issue.

Pa leads the nation in socialist corporate welfare. We are number one. https://www.commonwealthfoundation.org/2016/03/02/were-1-pa-leads-nation-in-corporate-welfare/
We lag the nation in job creation. We are 27th. Clearly giving out truck loads of socialist corporate welfare is not producing jobs.
We have the highest fuel tax in the nation. We also have the most expensive toll road in the WORLD. Pa Turnpike. I do not agree with cutting taxes to the rich and I hope this is just politics. I see nothing to celebrate here.

[FakeNoose]

8. There's a lot more to it than "corporate give-aways"

I live in Pittsburgh and I remember when the steels mills shut down and laid everybody off. It was a sad, horrible time when young families and young people out of school had no choice but to move away and find jobs elsewhere.

Well Pittsburgh has no steel mills anymore, we've become a high-tech hub with Carnegie Mellon University as the magnet. We've also become a hospital/medical research hub with Pitt Medical School and UPMC as the magnet.

It has taken almost 40 years to turn this around. Josh Shapiro came to Pittsburgh yesterday to acknowledge the hard work and hard choices that leaders in Pittsburgh and Allegheny County have made along the way. Shapiro is pretty much saying that the state of Pennsylvania can learn from the success in Pittsburgh.

Here's what Shapiro says in the same article:

Mr. Shapiro, the sitting attorney general, said his administration would create an Office of Economic Growth and Workforce Development, a first-of-its-kind venture that would serve as a resource for businesses to get timely answers to their questions. Now, when a business wants to move here, they have to go to numerous different agencies and a complex bureaucratic web, Mr. Shapiro said.

“By creating a one-stop shop, we’ll save companies time,” Mr. Shapiro said, “and time is money.”

This could have been done 50 years ago - but it wasn't.

[The Jungle 1]

11. The steel workers were not the only folks affected.

Here in the southeast we lost all kinds of good industry.
We did have TAA benefits. My wife and I both used them.