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FOR IMMEDIATE RELEASE |
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State
Rep. Rick Taylor |
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House approves Taylor amendment that would lower taxes
HARRISBURG, Jan. 16 – The state House today gave overwhelming support to an amendment sponsored by Rep. Rick Taylor, D-Montgomery, that would significantly reduce Pennsylvania’s Personal Income Tax rate. Taylor’s proposal would lower the rate from its current 3.07 percent to 2.99 percent.
The reduction would return about $300 million to taxpayers, both individuals and small businesses.
“The signs from Washington are pointing toward a recession, and the timing of a cut like this would be especially beneficial for small business owners,” Taylor said. “Small businesses are where the lion’s share of growth in Pennsylvania’s economy has occurred, and a tax cut now would help buttress these businesses so they can weather a recession, invest in newer technology and hire additional employees.
“I’d sooner see more money in the hands of my constituents and small businesses than more money flowing into the coffers of Harrisburg.”
Taylor’s tax cut amendment passed by a 185-9 vote.
“I appreciate my colleagues from this region from both sides of the aisle who put aside partisanship to help us provide another slice of the reform that many of us pledged to fight for when we were elected,” Taylor said.
Taylor attached the amendment to a bill (H.B. 377) that would provide a tax refund to qualified low-income workers. That measure could come up for a final vote as soon as Thursday.
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CONTACT: Jay Purdy
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