The current state of affairs in Harrisburg isn’t known for bipartisan agreements. But, both parties are working toward cutting the corporate tax rate in the Keystone State.
Right now corporations pay a 9.99 percent tax on their income—a number both Democrats and Republicans would like to bring down as part of the budget negotiations.
However, at the center of the debate between parties right now is exactly how much to bring the tax rate down.
Proposals have ranged for gradual declines to as low as 5.99 percent or as high as 7.99 percent.
Some state lawmakers believe that reducing the corporate tax rate will be an incentive for businesses to operate in Pennsylvania.
