Tax Fairness
Nobody likes paying taxes, but they reflect the public investments we have chosen to make through the democratic process. That doesn’t mean we can’t improve the tax environment in the state and at the local level. At the top of that list are property taxes. But opportunities for improvement exist throughout the tax code to make the business climate better, lessen the burden on working people, and provide families with more money in their pockets.
We can improve the tax atmosphere by:
Eliminating or Significantly Reducing Residential Property Taxes
Property taxes are antiquated, unfair, and in equitable. They are further a deterrent to people aging in the homes that they have worked throughout their lives to own. And they act as a disincentive to homeowners improving and maintaining their homes. The Senate Democrats have a plan to provide substantial property tax relief and eliminate the property taxes of 60% of homeowners by providing rebates. But as a caucus, we’re willing to talk about any plan that fairly eliminates residential and farmstead property taxes.
Updating the Personal Income Tax (PIT)
The PIT rate of 3.07% in Pennsylvania is among the lowest in the country in states that impose the tax. Included in paying the PIT are many businesses that have a structured as “pass-through entities.” The Senate Democrats have a plan that will lower the PIT for individuals, while treating business or passive income differently. This will raise money, potentially to pay for property tax relief, reduce individual income tax bills, and tax business income more closely to corporate income.
Reducing the Corporate Net Income Tax and Eliminating Loopholes
Unlike the PIT, at 9.99%, Pennsylvania has one of the highest corporate tax rates in the country. But our tax code is riddled with loopholes, exemptions, tax credits, and deductions that could all be used to reduce the tax rate and provide a level playing field for all businesses, rather than just those that have the lobbying strength to get special treatment. Plans exist to cut the rate by 30 or 40 percent but not reduce state revenue, including closing the so-called “Delaware Loophole”. This is a fair path forward that the business community should embrace.
Nuestros miembros en acción
Boscola Calls for Allowing Property Tax Write-offs on State Income Tax Returns
HARRISBURG, Dec. 22, 2017 – State Sen. Lisa M. Boscola (D-Northampton/Lehigh) today said she is introducing legislation that would allow homeowners to write off their paid property taxes on their state income tax returns. Pointing to the federal tax reform law that...
Los senadores instan a votar sí en el referéndum sobre el impuesto de bienes inmuebles
Artículo de opinión de los senadores estatales Lisa Boscola y Pat Browne
Los ciudadanos de Pensilvania tendrán la oportunidad de emitir su voto a una importante pregunta electoral que podría conducir a una reforma del impuesto sobre bienes inmuebles. Instamos a los ciudadanos a votar sí.
Debido a su lenguaje y estructura jurídicos, las preguntas electorales suelen estar redactadas de forma confusa y difícil de entender, y ésta no es diferente. Sin embargo, la cuestión subyacente es bastante sencilla. Al votar sí, los votantes aprobarán una enmienda constitucional para ampliar la exclusión de la propiedad de la mitad de la mediana del valor de tasación de todas las propiedades de la propiedad en un distrito fiscal hasta el 100 por ciento del valor de tasación de cada propiedad de la propiedad.