HARRISBURG – A Lancaster County lawmaker is introducing legislation to bring more jobs and families to the Commonwealth. Sen. Ryan Aument says PA needs to compete with new industries and businesses, but that won’t happen as long as the state has the second highest Corporate Net Income Tax rate in the nation. To that end, Aument introduced a bill to lower the current 9.99% CNI tax rate. Senate Bill 771 would lower the CNI tax to 8.99% in 2022; 7.99% in 2023; and 6.99% in 2024. Only New Jersey has a higher CNI tax rate than PA. Aument added that data shows a strong connection between lower CNI rates and higher population, home values, and workers’ wages. The bill is before the state Senate Finance Committee for consideration.

SEN. RYAN AUMENT