×

Pennsylvania small businesses need tax cuts

KIRBY SENSENIG

Philadelphia

The negative impact of Philadelphia’s soda tax has taught our state a valuable lesson: high taxes are bad for business and bad for the economy.

Congress should provide Pennsylvania small businesses with a tax cut. Roughly 98 percent of companies in our state are small businesses, but they are punished with a top marginal tax rate of nearly 50 percent.

These burdensome rates hurt the economy, which depends on small businesses to invest in expansion and hire new employees. High tax rates result in job losses, hurting employees and their families. As a small business owner and a member of the Keystone Chapter of the Associated Builders and Contractors, I have witnessed this devastation firsthand. When manufacturing is taxed at such high rates, they can’t grow and expand. That in turn hurts the construction industry. In Pennsylvania manufacturing alone, jobs have fallen by almost 17 percent in the last 10 years.

A tax cut would allow small businesses to be more competitive, restoring growth to our economy. Congress needs to pass these tax cuts now.

NEWSLETTER

Today's breaking news and more in your inbox

I'm interested in (please check all that apply)
Are you a paying subscriber to the newspaper? *
   

COMMENTS

[vivafbcomment]

Starting at $3.69/week.

Subscribe Today