Tax Cuts Pass Senate
HARRISBURG, Pa. (AP) — Pennsylvania state senators approved a $240 million tax-cutting package as negotiators prepare to hash out a budget for the next fiscal year.
The four bills that passed Monday are a Republican plan to deliver relief to businesses and low-income taxpayers and to jump-start a sluggish economy.
But Democrats argued against the bills, saying now isn't the time to cut taxes, when the state is scrounging for money for existing programs.
Democratic Gov. Ed Rendell has proposed a $28 billion-plus budget for the budget year that begins July 1.
One of the Senate bills would lift the forgiveness limit on the state's personal income tax for the state's lowest-income workers.
Another would raise the cap on the losses that a business could carry forward to offset taxes on future profits.
The four bills that passed Monday are a Republican plan to deliver relief to businesses and low-income taxpayers and to jump-start a sluggish economy.
But Democrats argued against the bills, saying now isn't the time to cut taxes, when the state is scrounging for money for existing programs.
Democratic Gov. Ed Rendell has proposed a $28 billion-plus budget for the budget year that begins July 1.
One of the Senate bills would lift the forgiveness limit on the state's personal income tax for the state's lowest-income workers.
Another would raise the cap on the losses that a business could carry forward to offset taxes on future profits.
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