Chamber Supports Bill to Lower CNI

The Chamber’s Board of Directors unanimously supports legislation that would reduce Pennsylvania’s Corporate Net Income tax rate from the second highest in the nation. Senate Bill 771, co-sponsored by Senator John Gordner, would begin to reduce the current rate of 9.99% as of January 1, 2023, to 6.99% in 2025, and even as low in 5.99% by 2026 should revenue exceed projections for 2025 at the 9.99% rate.

The bill is currently under consideration in the Senate and has bipartisan support. Governor Wolf called for an immediate reduction in the CNI to as low as 4.99% in his 2022-23 budget plan.