May 8—WILKES-BARRE — Sen. Lisa Baker said Wednesday that critical choices must be made about state taxes and spending.
Baker, R-Lehman Township, said Pennsylvania’s working families, job creators and energy consumers would see their taxes reduced by about $3 billion a year under a plan bill approved by the Senate.
Baker said Senate Bill 269 would reduce the personal income tax (PIT) rate from 3.07% to 2.8%. She said the bill would also eliminate the energy gross receipts tax, effective January 1, 2025, providing crucial relief from high energy costs.
Baker said the bipartisan legislation would represent the largest tax cut for working families in Pennsylvania history, saving taxpayers more than $13 billion over the next five years.
“Many people facing job changes and rising costs due to inflation have asked what Pennsylvania can do to help,” Baker said. “This proposal will clearly oppose the governor’s massive spending budget plan. It is intended to help us achieve a more family-friendly balance between costs and services.”
Baker said the tax cuts would benefit all Pennsylvania families and inject an additional $3 billion into the state’s economy, rather than strengthening government and arbitrarily picking winners and losers. She said the plan stood in stark contrast to Gov. Josh Shapiro’s calls for $3.2 billion in new government spending, as well as legislation introduced by House Democrats to nearly quadruple some taxes paid by small businesses. businesses.
Baker said the tax cuts are a continuation of Senate Republicans’ longstanding efforts to protect taxpayers from unnecessary tax increases, new spending and uncontrolled growth in the size of government.
Senate Bill 269 has been sent to the House of Representatives for consideration.
Contact Bill O’Boyle at 570-991-6118 or on Twitter @TLBillOBoyle.
