HARRISBURG – Rep. Tracy Pennycuick (R-Montgomery) today attended a press conference in Harrisburg in support of a package of bills aimed at supporting jobs and families by boosting the economy in the midst of the recovery from the COVID-19 pandemic.
“We need this type of aggressive legislative package to meet the very real need of reviving the economy and the millions of families and businesses it supports,” said Pennycuick. “Pennsylvania needs to be proactive in order to stem the loss of any more businesses and the jobs they provide.”
Essentially, the bills would incentivize manufacturers and provide protections, as well as tax and regulatory reform, to small businesses.
The package includes the following bills:
• Reshore to Restore (House Bill 600
) would authorize the Commonwealth Financing Authority to designate strategic and targeted zones in the state to be used as the base of operations for manufacturing. Businesses in those zones would receive tax abatements for state and local taxes and would be eligible for targeted job creation tax credits to bring more quality employment opportunities to our citizens.
• Job Creator Recovery and Reinvestment (House Bill 198
) would allow a net operating loss (NOL) deduction up to 100% of income to allow job creators a chance to recover from pandemic economic losses and reinvest in PA. The additional deduction would apply only to losses that occurred in 2020.
• Prioritizing Workforce Development (House Bill 602
) would encourage companies and employers to invest in workforce development and skilled training programs to better match students with available career opportunities.
• Corporate Net Income Taxes (House Bill 603
) would provide tax relief to low-income families and foster a climate aimed to assist struggling businesses and attract new business into the Commonwealth by adjusting the special poverty provisions tax exemption thresholds and reducing the Corporate Net Income Tax over a period of years.
• DEP Permit Predictability (House Bill 604
) would establish a permitting framework at the Department of Environmental Protection to ensure that decisions on permits are rendered reliably and in a timely manner.
• COVID Immunity (House Bill 605
) would help provide an expedited and efficient resolution of lawsuits arising out of exposure to COVID-19.
• Jobs of the Future Study (House Resolution 60
) would establish a select committee to review opportunities for the development of new industries in the Commonwealth, including advanced manufacturing.
Pennycuick says she is hopeful the bills will be taken up by the House and Senate and sent to the governor’s desk in the very near future.
Representative Tracy Pennycuick
147th Legislative District
Pennsylvania House of Representatives
Media Contact: Tricia Lehman
Rep. Tracy Pennycuick (top, center) attended a press conference in Harrisburg in support of a package of bills aimed at supporting jobs and families by boosting the economy in the midst of the recovery from the COVID-19 pandemic.