West Montgomery Times

Senate Republicans Secure Historic Tax Cuts for Working Families

HARRISBURG – Working families, job creators, and energy consumers in Pennsylvania would see their taxes reduced by approximately $3 billion a year under a bill approved by the Senate today, said Sen. Tracy Pennycuick (R-24).

Senate Bill 269 would reduce the Personal Income Tax (PIT) rate from 3.07% to 2.8%, putting more money in the wallets of every Pennsylvanian who earns a paycheck. The bill would also eliminate the Gross Receipts Tax on energy, effective Jan. 1, 2025, providing critical relief from high energy costs.

"The bipartisan legislation would represent the largest tax cut for working families in Pennsylvania history, saving taxpayers more than $13 billion over the next five years."

“Cutting income taxes and the tax on energy bills is a much better option than the governor’s plan for new government spending,” said Pennycuick. “Let Pennsylvania families keep more of the money they earned and they will decide what to spend it on, fueling local economies.”

"The tax cuts would benefit all Pennsylvania families and inject an additional $3 billion into the state’s economy, rather than growing government and arbitrarily picking winners and losers."

"The plan is a sharp contrast from Gov. Josh Shapiro’s calls for $3.2 billion in new government spending, as well as legislation introduced by House Democrats to nearly quadruple certain taxes paid by small businesses."

"The tax cuts are a continuation of Senate Republicans’ longstanding efforts to protect taxpayers against unnecessary tax increases, new spending, and unchecked growth in the size of government."

Senate Bill 269 was sent to the House of Representatives for consideration.

Pennycuick Tax Relief

CONTACT: Lidia Di Fiore (215) 541-2388