HARRISBURG – Families, job creators and energy consumers in Pennsylvania would see their taxes reduced by approximately $3 billion a year under a bill approved by the Senate today, said Sen. Michele Brooks (R-50).
Senate Bill 269 would reduce the Personal Income Tax (PIT) rate from 3.07% to 2.8%, putting more money in the wallets of every Pennsylvanian who earns a paycheck. The bill would also eliminate the Gross Receipts Tax on the electric bill for Pennsylvania residents effective Jan. 1, 2025, providing critical relief from high energy costs.
“Reducing these taxes will help families handle the rising costs of groceries, put more gas in their cars, save up for a house and invest in their future,” Brooks said. “Not only will this legislation help our families, but it will give our farmers and small businesses a much-needed boost to prosper and grow for the future.”
The bipartisan legislation would represent the largest tax cut for working families in Pennsylvania history, saving taxpayers more than $13 billion over the next five years. It does not pick winners and losers by selecting only certain beneficiaries of government programs.
“Regardless of where you are in life, this tax reduction helps everyone in the commonwealth. Whether you are a young person just starting to earn a paycheck, or you have reached retirement age, this plan will return more money into every household,” Brooks said.
The bill also would establish a Volunteer Certified Emergency Medical Technician (EMT) Tax Credit. Eligible EMTs would be able to claim a $500 tax credit against their state tax liability.
“Our volunteer EMTs are in a state of crisis, with the ranks of EMTs available to answer emergency calls dwindling to alarming lows,” Brooks said. “My hope is that this tax credit in this bill will help our local communities recruit and retain volunteer EMTs moving forward.”
The tax cuts are a continuation of Senate Republican efforts to protect taxpayers against unsustainable spending and unchecked growth in the size of government.
Senate Bill 269 was sent to the House of Representatives for consideration.
CONTACT: Adam Gingrich, 717-787-1322