Harrisburg, July 8, 2022 –State Senator John Yudichak (I-Luzerne/Carbon) announced today that as part of the budget process, the General Assembly has passed a number of initiatives that will create historic economic development, and propel forward investments in economic innovation, education, school safety, long-term care facilities and property tax relief for Pennsylvania senior citizens.
“As the Chairman of the Senate Community, Economic, and Recreational Development Committee, I want to thank Senate President Jake Corman, Senate Majority Leader Kim Ward, and Governor Tom Wolf for the historic economic development wins in the 2022-2023 state budget,” said State Senator Yudichak. “Over the course of the last legislative session, the Senate Community, Economic, and Recreational Development Committee has held hearings across the Commonwealth and has cast several votes on legislation to improve Pennsylvania’s business tax policies and enhance economic development programs that empower the private sector to create good-paying, family-sustaining jobs.
“The bi-partisan effort to cut Pennsylvania’s punitive corporate net income tax from 9.99% to 4.99% will unleash a torrent of new private investment to help attract new companies and new jobs to every region of our Commonwealth. In addition, small business tax changes are included in this year’s state budget to modernize deductions, create more flexibility in tax planning, and provide greater tax incentives for small businesses who have struggled through the COVID-19 pandemic.
“In addition to smart business tax policies, the Commonwealth’s new fiscal plan includes investments in proven economic innovation programs, like the $2.5 million increase in the Ben Franklin Technology Partners line item, and in new entrepreneurial programs like the $2.35 million being invested in Invent Penn State that has locations in both Hazleton and Wilkes-Barre.
“Furthermore, you cannot build a strong economy unless you are investing in a public education system that can produce a skilled, educated workforce. Governor Wolf has been consistent and resolute in his support of education, and this state budget reflects his commitment by making historic investments of $525 million in new basic education funding, and more than $200 million in school safety programs. In addition, this budget includes a $9.7 million increase in funding for community colleges, which will allow Luzerne County Community College and Lehigh Carbon Community College to continue to train, upskill, and educate even more students in northeastern Pennsylvania.
“The state budget, above and beyond the investment in a stronger economy and education, also makes a significant investment of $400 million in Pennsylvania’s long-term care industry that was ravaged by the COVID-19 pandemic. It has been a pleasure to work with long-term care advocates who have helped us establish the NEPA Nursing Home SOS Program and build a statewide coalition to champion the rights of some of our most vulnerable citizens.
“Finally, one of my long-standing priorities in the legislature has been to drive out more property tax relief for Pennsylvania senior citizens. The newly passed state budget will include a 70% enhancement to the Property Tax and Rent Rebate Program that will drive much needed financial resources to our seniors who are struggling with the daily burdens of rising inflation.”
Brad Hurley (email@example.com)