Markosek seeks to exempt CARES Act funding from state, local taxation
HARRISBURG, April 9 – Looking to maximize relief and minimize the financial burden associated with the COVID-19 pandemic, state Rep. Brandon Markosek, D-Allegheny, on Thursday introduced legislation that would exempt the cash payments disbursed by the CARES Act from state and local taxation.
“This is much-needed money for many families in Pennsylvania who have lost their source of income due to COVID-19 state emergency,” Markosek said. “The funding from the CARES Act is meant to help state residents – not add to their struggles. My bill seeks to ensure the CARES Act remains a positive legislative measure for Pennsylvanians at the state level.”
Congress recently voted and passed the CARES Act, which was put in place to help residents and businesses stay afloat during the COVID-19 pandemic. Included in the coronavirus response were provisions to provide cash payments to people making less than $99,000 and couples making less than $198,000.
These funds are exempt from federal taxation. Markosek’s bill seeks to ensure the funds are exempt from state and local taxation, too.
“It’s our responsibility to minimize the negative impact felt by Pennsylvanians due to the ongoing health crisis, so it’s my hope that my colleagues will see the benefit of this legislation and move it through the state House,” Markosek said.
State Sen. Jim Brewster, D-Allegheny, has a similar bill currently in the state Senate.
Markosek said he hopes his legislation is considered by the House in the near future.