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ARTICLE · 09 FEBRUARY 2022

Worth Another Look: Jobs That Pay

Governor Tom Wolf gave his eighth and final budget address today, and, without saying as much, proposed a $43 billon state spending plan with the prevalent themes of "jobs that pay...

United StatesGovernment, Public Sector

Governor Tom Wolf gave his eighth and final budget address today, and, without saying as much, proposed a $43 billon state spending plan with the prevalent themes of "jobs that pay, schools that teach and government that works." The Governor, most notably, proposed reducing the Corporate Net Income Tax (CNIT) rate and increasing the state's minimum wage.

Work will begin on the budget next week, when the House and Senate Appropriations Committees hold budget hearings with the state agencies, and continue until a final budget is passed by the June 30th deadline. Details on the Governor's "jobs that pay" proposal can be found below.

Corporate tax reform

  • Reduction in the CNIT rate from 9.99 to 7.99 percent on January 1, 2023, with a reduction to 6.99 percent in 2026 on a path to 4.99 percent

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