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PA House of Representatives About to Cripple Small Businesses in Our Area
PA House looks to tackle deficit by gutting key programs that support small businesses.
June 25, 2014 at 9:11 AM
On Tuesday, June 24, Pennsylvania House of Representatives took action to suspend tax credit programs for the next two fiscal years. The measure was taken as a means of addressing Pennsylvania's budget deficit.
Among those programs slated to be eliminated are the Pennsylvania Research and Development Tax Credit, which provides small businesses with a 20 percent tax credit for increased expenditures on R&D in the Commonwealth (larger businesses receive a 10 percent credit), and the Keystone Innovation Zone program, which provides young businesses a tax credit up to 50% of the increase in gross revenues attributable to activities within innovation zones. The tax credit limit is $100,000 per business per year.
I don't know about you, but I like small businesses – and not just because I work for one. Small businesses are the backbone of our economy and cornerstone of our communities, and they've been one of the stabilizing forces in the recent economic recovery nationwide.
And Erie's no exception. But you already know that, because it's something we're writing about often.
Yes, we need to address Pa.'s budget deficit, but gutting the support system for small businesses that are one of the driving forces steering our economy in the right direction is not what's best for Pennsylvania – or for Erie.
If you agree that small businesses shouldn't be amongst the first line items to be gouged, contact our local representatives and encourage them to find an alternative means to address the budget.
Rep. Pat Harkins: PHarkins@pahous
Rep. Flo Fabrizio:ffabrizio@pahou
Rep. Ryan Bizzarro: RBizz@pahouse.n
Sen. Sean Wiley: swiley@pasenate
Rep. Curt Sonney csonney@pahousegop.com
Rep. Greg Lucas glucas@pahousegop.com
Rep. Brad Roae broae@pahousegop.com
Rep. Michele Brooks mbrooks@pahousegop.com
You can also take action here.
The next vote is slated for Wednesday, June 25, or Thursday, June 26.
Ben Speggen believes in a balanced budget. But he also believes in small business development. And just because a business is small, doesn't mean its voice can't be loud or should be the first to be silenced. Please join him in the fight to ensure a bright future for the small businesses in Pennsylvania. If you want to talk more, contact him at bSpeggen@ErieReader.com and follow him on Twitter @ERBenSpeggen.