PRESS STATEMENT: PA Will Lose $3.1 Billion to Corporate Tax Cuts by 2028
Originally published at Pennsylvania Policy Center on November 30, 2023. November 30, 2023 FOR IMMEDIATE RELEASE Contact: Kirstin Snow, Communications Director, Pennsylvania Policy Center, snow@pennpolicy.org; Ellie Blachman, Center on Budget and Policy Priorities, (202) 325-8718, eblachman@cbpp.org New report: Pennsylvania will lose $3.1 billion to corporate tax cuts by 2028 Pennsylvania is part of historic, nationwide tax-cutting wave that jeopardizes investments in communities and our ability to meet the challenges of the future. Harrisburg, PA — In recent years, policymakers in Harrisburg joined their counterparts in more than half the states across the country on a historic revenue-reduction spree that shifted public funds away from public investments and toward tax cuts that primarily benefit wealthy households and corporations. Those corporate income tax cuts have already cost Pennsylvania $127 million in revenues and will cost an additional estimated $3 billion by 2028, according to a new report by the Center on Budget… Continue reading