Jul. 07, 2022
HARRISBURG – As fiscal responsibility and targeted investments remain top priorities, Rep. Rob Mercuri (R-Allegheny) announced the 2022-23 budget, which totals $42.8 billion, passed the House. He released the following statement:
“Pennsylvanians can be proud of this year’s state budget, as fiscally responsible and future focused as they are.
“A couple of months ago on the steps of the Ryan Office Building, my colleagues and I announced plans for ‘A New Day in PA’- a plan to make us competitive again and to invest in our future. I am happy to support the budget because this is a big step forward towards that goal.
“In order for taxpayers to keep more of their hard-earned money, my colleagues joined me in staying the course of making investments in our communities while saving up for future needs in the Rainy Day Fund. As we prepare for a recession, every dollar spent is magnified.
“I am pleased to report that this budget once again features no new taxes and no new fees. This is another showing of how my colleagues and I are standing up for taxpayers by saving for the future, returning public dollars for relief and investing in Pennsylvania. It proves we can address the diverse needs of citizens in a responsible manner.
“In order for Pennsylvania to reach its peak, I believe it begins with putting our children in positions to succeed. As a father of three and member of the House Education Committee, it is of utmost importance that students receive the best education. We are taking record investments and putting them towards our young people and great public schools, while also enabling more parental choice. The budget includes an increase of $525 million to basic education, bringing the total to $7.08 billion. It also sets aside $405 million, a 45% increase, for the Educational Improvement Tax Credit Program (EITC) so kids have better educational opportunities. It also addresses school safety and security; mental health; charter school regulations; early childhood education; special education; and low-performing schools, among others.
“In this budget, we have reduced the Corporate Net Income Tax, an action which was long overdue because this tax put us at the bottom of the heap in terms of corporate competitiveness and cost us jobs, revenue and economic growth. We committed to decreasing the rate from 9.99% immediately to 8.99%. Over the next 10 years, it will be reduced to 4.99%. in addition, our small business will receive Research and Development (R&D) Tax Credits and support with like-kind exchanges. Along with our CNIT and educational investments, this budget was something that I am happy to support.”
To view Rep. Mercuri’s remarks, click the link here
Representative Robert Mercuri
28th Legislative District
Pennsylvania House of Representatives
Media Contact: Nate Temple