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State Budget Included Several Pro Business Victories

Source: PA Chamber of Business and Industry

Pennsylvania’s recently enacted state budget includes several pro-business victories including eliminating Pennsylvania’s Startup Tax by raising the cap on net operating losses, modernizing our permitting processes, and advancing workforce initiatives. These provisions will help attract new economic opportunities, expedite project approvals so that businesses can grow and create jobs, help employers address workforce challenges, and equip Pennsylvanians with the skills needed for the future. See the highlights below!

Tax Reform

  • The 2024-25 PA budget eliminates the startup tax by improving the
    treatment of net operating losses (NOLs). This change makes PA more attractive for new and growing businesses.
  • NOL reforms now aligns with federal tax standards on carrying business losses forward.

Permitting Reform

  • PA’s new state budget streamlines the permitting process, reducing costs and delays for businesses.
  • Reforms include third-party reviews and set response timelines.
  • PA's budget reforms our outdated permitting system, promoting transparency and efficiency.

Workforce Development

  • Investments in career and technical education, making it easier for qualified individuals to become CTE educators.
  • New scholarships for in-demand fields and greater funding for workforce housing.
  • Boosts investment in career and technical education and
    incentivizes employer reimbursements for childcare expenses.
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