Josh Shapiro tells Pittsburgh his 'business-friendly' administration would slash corporate tax

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(link) https://www.post-gazette.com/news/politics-state/2022/07/27/josh-shapiro-pittsburgh-visit-business-friendly-government-slash-corporate-tax-elected-governor-robotics/stories/202207270127

In a visit with leaders of Pittsburgh’s robotics industry on Wednesday, Josh Shapiro said he will usher in a “customer service-oriented, business-friendly government” and work to cut the corporate net income tax to among the lowest in the nation if he’s elected in November.

Mr. Shapiro, the Democrat who is facing Republican Doug Mastriano in the gubernatorial race, said that in order to attract new businesses to Pennsylvania and keep businesses from leaving to other states, it’ll take fostering an economic climate that allows them to grow. He unveiled his economic plan this week, which he says aims to lower taxes, spur innovation and cut red tape.

His visit to Pittsburgh Robotics Network in Lawrenceville came as the country continues to battle rising costs and high inflation, putting Democratic leaders on the defensive over the record of President Joe Biden’s administration. Mr. Shapiro acknowledged that businesses and workers are struggling and said the state can learn a thing or two from Pittsburgh if it wants to be a leader in the new economy.

Mr. Shapiro proposed cutting the corporate net income tax to 4% by 2025, a significantly quicker timeframe than the state is currently on. He said the current tax rate at 9.99% — the second highest in the U.S. — “holds many businesses back.”

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