Governor Corbett’s fiscal year 2013-14 budget proposal includes a tax reform package aimed at “improving Pennsylvania’s tax climate by reducing tax burdens that inhibit job creation and economic growth.”
The centerpiece of this proposal is a long-term reduction in the corporate income tax rate, reducing the rate from 9.99% to 6.99% between 2015 and 2025. This tax reform package also includes a number of minor, short-term tax policy revenue changes.
This policy brief utilizes PA-STAMP to estimate the impact of Gov. Corbett’s proposed tax reform package. Accordingly, by 2017-18, these reforms (compared with current policy) would result in — read more.