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Tom Wolf on Corporations

 

 


Lower corporate tax rate by 50%, and close loopholes

Today, the corporate net income tax rate in Pennsylvania is 9.99 percent--one of the highest in the country. That is appalling. That is driving jobs out of our state.

At the same time, loopholes in that tax code allow many companies to avoid paying state income taxes altogether. Because of these loopholes, more than 70 percent of companies that do business in Pennsylvania do not pay corporate net income taxes at all. That forces more of the burden onto small businesses and families across our state

In other words, the problem is not only that our corporate net income tax rate is too high. The problem is that we are not even seeing the revenues the tax is supposed to generate. It is the worst of both possible worlds.

My budget will close the Delaware loophole and cut the corporate net income tax rate by 40 percent in the first year and 50 percent by 2018. That will take us from the one of the highest in the country to one of the lowest in the country.

Source: State of the State address to 2015 Pennsylvania Legislature , Mar 3, 2015

Make Commonwealth an engine for economic development

Tom released his "A Fresh Start" policy plan, about the need to build a 21st century economy and create solid, secure middle-class jobs: "A dynamic and growing economy offers opportunities and help strengthen the middle class,' said Wolf. "Too often policy making is about the next deal or reacting to the latest crisis. It's time we think ahead."

A Fresh Start taps Pennsylvania's enormous growth potential by drawing on all of our state's resources. Specifically, the plan focuses on these key areas:

Tom will take state government in a different direction with a strategic focus on making our Commonwealth an engine for economic development and a magnet for private sector entrepreneurs who will create the solid, high-wage jobs Pennsylvania workers and families desperately need.
Source: 2014 Gubernatorial campaign website, WolfForPA.com, "Plan" , Mar 3, 2014

Other governors on Corporations: Tom Wolf on other issues:
PA Gubernatorial:
Allyson Schwartz
Mark Critz
Michael Nutter
Scott Wagner
Tom Corbett
PA Senatorial:
Bob Casey

Gubernatorial Debates 2017:
NJ: Fulop(D) vs.Lesniak(D) vs.Wisniewski(D) vs.Ciattarelli(R) vs.Guadagno(R) vs.Rullo(R)
VA: Gillespie(R) vs.Wittman(R) vs.Wagner(R) vs.Northam(D) vs.Perriello(D)
Gubernatorial Debates 2018:
AK: Walker(i) vs.(no opponent yet)
AL: (no candidate yet)
AR: Hutchinson(R) vs.(no opponent yet)
AZ: Ducey(R) vs.(no opponent yet)
CA: Newsom(D) vs.Chiang(D) vs.Istvan(I) vs.Villaraigosa(D)
CO: Johnston(D) vs.(no opponent yet)
CT: Malloy(D) vs.(no opponent yet)
FL: (no candidate yet)
GA: (no candidate yet)
HI: Ige(D) vs.(no opponent yet)
IA: Kim_Reynolds(R) vs.(no opponent yet)
ID: Little(R) vs.Fulcher(R)
IL: Rauner(R) vs.Kennedy(D) vs.Pawar(D)
KS: (no candidate yet)
MA: Baker(R) vs.(no opponent yet)
MD: Hogan(R) vs.(no opponent yet)
ME: (no candidate yet)
MI: Whitmer(R) vs.(no opponent yet)
MN: Coleman(D) vs.Murphy(D) vs.Otto(D)
NE: Ricketts(R) vs.(no opponent yet)
NH: Sununu(R) vs.(no opponent yet)
NM: Grisham(D) vs.(no opponent yet)
NV: (no candidate yet)
NY: Cuomo(R) vs.(no opponent yet)
OH: DeWine(R) vs.(no opponent yet)
OK: (no candidate yet)
OR: Brown(D) vs.(no opponent yet)
PA: Wolf(D) vs.Wagner(R)
RI: Raimondo(D) vs.(no opponent yet)
SC: McMaster(R) vs.(no opponent yet)
SD: Noem(R) vs.(no opponent yet)
TN: Green(R) vs.(no opponent yet)
TX: Abbott(R) vs.(no opponent yet)
VT: Scott(R) vs.(no opponent yet)
WI: Walker(R) vs.(no opponent yet)
WY: (no candidate yet)
Newly-elected governors (first seated in Jan. 2017):
DE-D: Carney
IN-R: Holcomb
MO-R: Greitens
NH-R: Sununu
NC-D: Cooper
ND-R: Burgum
VT-R: Scott
WV-D: Justice

Retiring 2017-18:
AL-R: Robert Bentley(R)
(term-limited 2018)
CA-D: Jerry Brown
(term-limited 2018)
CO-D: John Hickenlooper
(term-limited 2018)
FL-R: Rick Scott
(term-limited 2018)
GA-R: Nathan Deal
(term-limited 2018)
IA-R: Terry Branstad
(appointed ambassador, 2017)
ID-R: Butch Otter
(retiring 2018)
KS-R: Sam Brownback
(term-limited 2018)
ME-R: Paul LePage
(term-limited 2018)
MI-R: Rick Snyder
(term-limited 2018)
MN-D: Mark Dayton
(retiring 2018)
NM-R: Susana Martinez
(term-limited 2018)
OH-R: John Kasich
(term-limited 2018)
OK-R: Mary Fallin
(term-limited 2018)
SC-R: Nikki Haley
(appointed ambassador, 2017)
SD-R: Dennis Daugaard
(term-limited 2018)
TN-R: Bill Haslam
(term-limited 2018)
WY-R: Matt Mead
(term-limited 2018)
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Page last updated: Feb 26, 2017