Republican lawmakers are advancing a $3 billion tax cut, their newly unveiled counterproposal to a budget proposal from Democratic Gov. Josh Shapiro as each side offers a competing vision for how to use a massive cash surplus.
FILE - Gov. Josh Shapiro , D-Pa., speaks at a campaign event, Tuesday, April 16, 2024, in Scranton, Pa. Republican lawmakers on Tuesday advanced legislation for a $3 billion tax cut, their just-unveiled counterproposal to Democratic Gov. Josh Shapiro ’s budget plan as each side offers a competing vision for how to use a massive cash surplus sitting in the state treasury. HARRISBURG, Pa.
Republicans contended that such tax cuts would improve household budgets and stoke the economy in a state that desperately needs to step up its growth and appeal to keep pace with faster-growing states. “With this proposal, Senate Republican Leaders are coming to the table and acknowledging that we must invest in Pennsylvania’s future,” his office said.
The Senate GOP’s tax legislation would reduce the personal income tax rate from 3.07% back to the 2.8% level where it was before lawmakers in 2003 raised it to fill a deficit amid a foundering economy.
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