TOM CORBETT TALKS ABOUT HIS PLAN TO REVITALIZE PENNSYLVANIA’S ECONOMY AT A BUCKS COUNTY LUMBER COMPANY
-Says it is time to decrease the tax burden on businesses across the state –
Quakertown – Republican Gubernatorial candidate Tom Corbett spoke about the importance of turning around Pennsylvania’s economy and improving the jobs market as he toured Shelly’s Lumber Distribution Center in Quakertown. The recent economy has taken a toll on many of Pennsylvania’s businesses. It’s a fact that hasn’t been lost on Tom Corbett and it’s something he plans to change as governor.
“The unemployment rate in Pennsylvania is at 9.2 percent, the highest since the early 1980’s,” said Corbett. “We are near the bottom in the nation in job creation and near the top in taxes. I have a vision and a plan to turn around our economy. It unleashes the power of the private sector, with companies like Shelly’s Lumber leading the way.”
Pennsylvania has one of the worst tax burdens for job creators in the nation. Corbett plans to change that by working with public and economic leaders to build bipartisan, strategic policies today that will secure our future for tomorrow.
“It takes a leader to identify the problem, to develop a plan, execute that plan and then have the courage to persevere and overcome obstacles and roadblocks,” said Corbett. “The foundation of my plan is three simple principles, fiscal discipline, limited government and free enterprise.”
Three primary points of Corbett’s plan improve the business climate and economy include:
Tax Reform: Reducing the Corporate Net Income Tax, which is currently the second highest in the nation; repealing the “Death Tax” so small business owners and farmers don’t face the high tax burden of passing along the family business; removing the Net Operating Loss Cap. Pennsylvania is one of only 2 states to have caps on NOLs. Removing this would save companies from paying much higher tax rates than our competitor states.
Regulatory Reform: Pennsylvania businesses have too much red tape to cut through inhibiting growth and limiting their potential. Corbett will eliminate the permit backlog at state agencies; require effective communication between state agencies so businesses are better served by the state as a whole; require compliance assistance, making sure regulatory agencies detail and publish the most frequent violations and compliance rates for each state program; implement a Paperwork Reduction Act cutting down on the overwhelming amount of paperwork required by businesses just to operate year to year.
Legal Reform: Excessive and frivolous lawsuits must stop. Corbett will pass the “Fair Share Act” so a company, person or government agency isn’t responsible for 100% of legal damages despite their limited role in the incident; Corbett will also work to protect “innocent sellers,” people who sell a product and are sued, even though they had nothing to do with the creation of the product later claimed to be defective.
After touring Shelly’s Lumber Distribution Center, the Pennsylvania chapter of the National Federation of Independent Business announced its endorsement of Tom Corbett for governor. The NFIB represents thousands of small businesses across Pennsylvania.
“I’m proud to stand here today and have the support of small business owners across Pennsylvania,” said Corbett. “They are the ones who help create jobs and keep our economy moving in small towns and big cities across the Commonwealth. My plan supports their growth and will cut the red tape that too often stands in the way of small business expansion.”
NFIB member and Perkasie contractor Brooke Rush said years of record spending, tax increases and expensive mandates have taken a toll on Pennsylvania small-business owners and working families.
“Despite these tough economic conditions, small-business owners still believe Pennsylvania’s best days lie ahead. But our jobs recovery only can begin when state government breaks with the failed, tax-and-spend policies of current administration,” said Rush. “Tom Corbett is our best chance to get Pennsylvania back on the right track.”