HARRISBURG – PA Chamber of Business and Industry President/CEO Luke Bernstein reacted to the state budget passage. He says this budget has some victories for the business community such as meaningful permitting reform, while exiting the Regional Greenhouse Gas Initiative will encourage energy development and investment. The Chamber also applauded maintaining the phase down of PA’s corporate net income tax and the gradual increase of net operating loss deduction limits, as well as key investments to support workforce development. The Chamber was disappointed that the budget contains a provision that will make PA less competitive by discouraging research and development investment, though they are encouraged that language was included that requires the Department of Revenue to review the provision’s impact, which should inform policy making going forward.
