Create a Corporate Tax Structure Encouraging, Rather than Discouraging, Business Development, Entrepreneurship, and Growth in Jobs and Wages.
This would start by lowering what is essentially the highest corporate tax rate in the Country from 9.99% to the equivalent of the personal income tax rate of 3.07%. Second, we would permit entrepreneurs starting businesses, and those in cyclical businesses, to “carry forward” all of their operating losses from year to year. Third, we would restructure the policies and processes governing our unemployment tax rate, which is the highest in the US. In doing so, I will ensure the tasks of job creation and wage increases are recognized as the foundation upon which Pennsylvanians can support their families and achieve economic success, not simply sources of tax receipts for Harrisburg to squander.
Our employment growth during the Wolf administration has been less than half the national rate of job growth and that of most other states. Reducing the corporate tax burden over two to three years would allow the Commonwealth to establish a strategic advantage relative to other states, while restoring the job growth necessary to address our fiscal pressures. With job growth similar to that which the rest of the Country is experiencing, these changes to the tax structure would pay for themselves. This is within our grasp.
Support Home Ownership by Eliminating School Property Taxes and Empowering Counties to Eliminate County Property Taxes.
Today, homeowners, and especially seniors, living in Pennsylvania face rising school property taxes and the very real fear of being evicted from their homes. This is unacceptable in America and it's unacceptable in Pennsylvania. That's why I support the complete elimination of school property taxes. As Governor, I will sign legislation that eliminates school property tax once and for all, making certain that our citizens can be secure in their own homes. Homeowners, and especially our seniors, should not be forced into selling just because they can no longer afford property taxes. It is time to once again respect the right of home ownership in Pennsylvania. Additionally, I support the County Commissioners Association of PA (CCAP) call for Tax Fairness for counties. This plan would allow counties to substitute a sales and/or income tax for county property taxes. This is an option because counties vary dramatically throughout the state. This would benefit homeowners and businesses alike.
I invite you to learn more about our comprehensive plan to bring our jobs and our children home to Pennsylvania by downloading your copy of Restore the Dream.
Join Paul in support of cutting taxes and simplifying the tax code. Sign our petition.
 Bureau of Labor Statistics. https://data.bls.gov/pdq/SurveyOutputServlet, Accessed July 24, 2017