Gov. Tom Wolf Archives - Page 2 of 10

Awards for affordable rental housing total more than $92 million

Awards totaling more than $44.2 million in Low Income Housing Tax Credits, more than $20 million in National Housing Trust Funds for the construction of 1,459 affordable multifamily rental units in Pennsylvania, and more than $9 million in PennHOMES funding, were announced by Gov. Tom Wolf Thursday.

This is the first year the agency is announcing awards for the new Pennsylvania housing tax credit totaling more than $19.3 million in state credits. The federal and state tax credits were approved by the board and administered by the PHFA.

“The funding we award today will have a significant impact by adding 1,459 affordable rental units once construction is completed,” Wolf said in a statement. “In all communities across the state, affordable housing is in great demand, which is why the allocation of this funding is important for addressing that need.”

Developments receiving funding will preserve and create an additional 1,518 total rental units, including 1,459 for low-income Pennsylvania residents, with 123 units for people at or below 30 percent of the area median income supported by the National Housing Trust Funds.

PHFA Executive Director and CEO Robin Wiessmann said tax credits are important as they fill a void in the marketplace for the construction of affordable housing.

“Even before the pandemic there was clear demand for more rental housing that fits people’s budgets. That demand is even stronger today, and this new round of tax credits, plus the additional funding, are vital for creating and rehabilitating much-needed affordable housing.”

The 33 multifamily housing developments being awarded for tax credits can be viewed on the PHFA site at https://www.phfa.or/mhp/. Please see the list of tax credit recipients under “News: 2022” and dated 11/10.

New law reforms prior authorization for medical treatment; lauded by PAMED

Gov. Tom Wolf signed legislation today that makes significant reforms to the prior authorization process for medical treatment, as well as changes to step therapy for prescription drug treatment plans, a move applauded by the Pennsylvania Medical Society (PAMED).

“The passage of prior authorization reform is a huge win for the medical community but more importantly, for our patients,” said PAMED President Dr. David A. Talenti.

“PAMED has stayed the course over the last six years, along with a broad coalition of physician provider and patient advocacy organizations, who were committed to improving health insurance processes to ensure optimal care for our patients. This bill is a substantial improvement to health care in Pennsylvania and I applaud it,” Talenti said.

Act 146 of 2022 sponsored by Sen. Kristin Phillips-Hil, R-York, ensures health care providers and insurers adhere to standards and timely feedback for prior authorization approval for medical treatment and procedures.

The law applies to all commercial health insurance carriers and Medicaid plans. The bill also provides a path for appeals to step therapy prescription drug treatment plans to best address provider-recommended option for patients.

This is comprehensive patient protection legislation that increases transparency with medical insurers for medication and treatment approvals, Talenti said.

“The final bill does not eliminate prior authorization, but it does provide standardized parameters that govern the relationships between patients, providers, and insurers in making health care coverage decisions,” he added.

Delays in the prior authorization process have often been cited as reasons for patients abandoning treatment plans or negative clinical outcomes, according to a recent survey conducted by the American Medical Association.

Prior authorization is the process in which health care providers obtain advance approval from insurers for payment or reimbursement before a specific treatment plan or procedure is delivered to the patient.

Step therapy is a form of prior authorization, but it applies to prescription drug treatment plans. Insurers may recommend different drug treatment option(s) to patients to control costs.

“This law will expedite health care treatment plans and delivery to the majority of Pennsylvanians, Phillips-Hill said. “Act 146 will improve health care outcomes and strengthen the relationship between patients and their providers. This law marks one of the most significant reforms to health care in our commonwealth in decades due to the willingness of all stakeholders working through a process that found compromise.”

Phillips-Hill said, “However, we did not lose focus on our goal: improving patient outcomes. Act 146 delivers on this shared goal.”

Phillips-Hill notes that health care costs increase under current prior authorization, and step therapy delays as patients abandon treatment plans and often resort to seeking emergency care.

“By connecting patients to their proper treatment earlier, we can keep patients out of emergency rooms and reduce health care costs,” she added.

The law takes effect at the beginning of 2024, which allows health care providers and insurers to establish a system for electronic prior authorization requests.

Production, promotion of Pa. beers and wines gets nearly $2 million boost from PLCB grants

The Pennsylvania Liquor Control Board (PLCB) has approved grants totaling $1,78 million for 21 projects to increase the production of Pennsylvania-made malt and brewed beverages and wines, Governor Tom Wolf announced.

The grants are aimed at enhancing Pennsylvania’s beer industry via promotion, marketing, and research-based programs and projects, as well as increasing the production of state-made wines.

“Since 2017, we have awarded more than $12 million to projects that support Pennsylvania’s growing wine and beer industries as they explore research, improve products and raise awareness,” Wolf said. “This is an investment that helps growers meet increasingly complex challenges, provides higher-quality and better-tasting products, and connects consumers with Pennsylvania wines and craft beverages that are among the finest in the nation.”

Ranked second in the U.S. for volume of craft beer production, Pennsylvania produced 3.2 million barrels in 2021 for a $5.5 million economic impact. Pennsylvania ranks fifth in the country for wine production and annually welcomes more than two million visitors to state wineries generating tourism revenue of more than $476.5 million. The economic impact of wine in Pennsylvania is more than $1.4 billion.

Act 39 of 2016 created the Pennsylvania Malt and Brewed Beverages Industry Promotion Board within the department of Agriculture and authorized the PLCB to approve up to $1 million annually for the development and marketing of the Pennsylvania beer industry. The Pennsylvania Fiscal Code also allows for unallocated beer grant funds to be made available in subsequent years.

Act 39 also expanded the Pennsylvania Wine Marketing and Research Board and authorized the PLCB to approve up to $1 million annually for wine research and promotion.

The PLCB regulates the distribution of beverage alcohol in Pennsylvania, operates 600 wine and spirit stores statewide, and licenses 20,000 alcohol producers, retailers, and handlers. The PLCB partners with schools, community groups, and licensees to reduce and prevent dangerous and underage drinking. Taxes and store profits totaling nearly $19.5 billion since the agency’s inception are returned to the state’s General Fund to finance Pennsylvania schools, health and human services programs, law enforcement, public safety initiatives, and other key public services.

The Pennsylvania State Police, Bureau of Liquor Control Enforcement, Department of Drug and Alcohol Programs, and other state agencies and local municipalities across the state also receive financial support from the PLCB.

Additional information regarding the PLCB can be found at lcb.pa.gov. 

State to receive $900 million in federal funding for climate-smart ag practices

Pennsylvania will receive more than $900 million in federal funding to support farm organizations, businesses and research institutions using climate-smart practices.

Gov. Tom Wolf and U.S. Senator Bob Casey, D-PA, said the funds from the U.S. Department of Agriculture’s Partnerships for Climate-Smart Commodities will help farmers implement “climate-smart” production practices that sequester carbon and reduce greenhouse gas emissions with targeted investments for small and underserved producers.

The program will also help promote and increase consumer awareness of climate-smart commodities like dairy, beef and eggs, while quantifying emissions reduction benefits, Casey said.

“Agriculture bears the brunt of the impact of climate change, from extreme weather to an environment that is more inviting to invasive pests, plants and disease,” Wolf said. “My administration has provided unprecedented support for the industry that feeds and sustains us – as seen through the PA Farm Bill and Clean Streams Fund – and I am pleased that our efforts will be multiplied exponentially with federal support. Farmers cannot tackle climate change alone.”

The 19 Pennsylvania projects were among 70 selected nationwide, investing $2.8 billion in the first of two rounds of Partnerships for Climate-Smart Commodities funding.

“Pennsylvania’s agricultural industry is central to our economy. This funding will give a boost to farmers and ranchers as well as manufacturers using climate-smart production to support local economies and increase PA competitiveness while combatting the climate crisis,” Casey said.

The projects will expand markets for climate-smart commodities, leverage the greenhouse gas benefits of climate-smart commodity production and provide direct, meaningful benefits to production agriculture, including for small and underserved producers.

Projects funded aim to:

Provide technical and financial assistance for putting climate-smart practices in place;
Develop innovative and cost-effective methods for monitoring, reporting and verifying greenhouse gas benefits; and
Develop markets and promote the benefits of commodities grown using climate-smart practices.

Lead partners of the 19 projects based in Pennsylvania or involving PA-based partners include:

Wolfe’s Neck Farm Foundation, Inc., $35,000,000

Cooperative Regions of Organic Producer Pools, $25,000,000

Truterra, LLC, $90,000,000

Pennsylvania State University, $25,000,000

PASA Sustainable Agriculture, $55,000,000

Farm Journal, Inc., $40,000,000

American Forest Foundation, $35,000,000

The Nature Conservancy, $60,000,000

National Fish & Wildlife Foundation, $95,000,000

The DeLong Co., Inc., $40,000,000

Low Carbon Beef, LLC, $10,000,000

Rodale Institute, $25,000,000

American Farmland Trust, $30,000,000

Dairy Farmers of America, Inc., $45,000,000

National Association of Conservation Districts, $90,000,000

Field to Market, $70,000,000

American Sustainable Business Institute, Inc., $35,000,000

The Conservation Innovation Fund, $25,000,000

Carbon A List, LLC, $70,000,000

Pennsylvania receives $25.4 million for electric vehicle infrastructure

Pennsylvania has been awarded $25.4 million to invest in clean transportation through the state’s plan for electric vehicle (EV) infrastructure deployment.

Gov. Tom Wolf said today the Biden Administration awarded the funding, making Pennsylvania one of the first states in the nation to be approved for the first round of funding under the Bipartisan Infrastructure Law (BIL). The state is to receive a total of $171 million over the next five years.

“Addressing the global threat of climate change is a top priority throughout my administration and it’s a priority that President Joe Biden and I share. Investing in EV infrastructure is a critical way to reduce greenhouse gases and make EV chargers accessible for more Pennsylvanians,” Wolf said. “I’m grateful that the Biden Administration has committed a significant portion of the landmark Bipartisan Infrastructure Law for clean transportation, and that Pennsylvania will receive this initial investment to support our state’s efforts.”

The federal funding is part of a new National Electric Vehicle Infrastructure (NEVI) Formula Program under the BIL. The Pennsylvania NEVI Plan will be administered by the PennDOT.

“PennDOT and our partners have been hard at work preparing for a future filled with electric vehicles,” said PennDOT Secretary Yassmin Gramian. “These new funds available to us through the Bipartisan Infrastructure Law give Pennsylvania the opportunity to reinvent transportation in a way that is smarter, cleaner, safer, more equitable and more efficient than ever before, and we are ready to put them to good use.”

“Increasing access to electric vehicles and EV chargers is one of the best ways to cut down on air pollution and fight climate change,” said Acting DEP Secretary Ramez Ziadeh. “These investments into improving EV charger infrastructure will mean cleaner air for Pennsylvanians and will pay dividends for years and generations to come.”

There are more than 31,000 EVs registered in Pennsylvania, nearly triple the roughly 9,700 that were registered in March 2019.

$246.8 million in American Rescue Plan funds awarded

Pennsylvania has awarded $246.8 million in American Rescue Plan funding, through the State Small Business Credit Initiative (SSBCI), to local economic development partners to make direct equity investments and loans to small businesses.

Gov. Tom Wolf today said the funding is to spur success and job creation opportunities across the state.

“The dollars awarded today will help businesses that are small, socially and economically disadvantaged, and those in the innovation and technology sector grow and thrive,” Wolf said.

The Pennsylvania Department of Community and Economic Development (DCED) is responsible for distributing the funds to eligible economic development partners who will administer the funding to qualifying businesses.

Funding was distributed equitably across the commonwealth, taking population data and the organizations serving each county into consideration to ensure that eligible businesses in all 67 counties will have access to either loans or equity investments, Wolf said.

The Direct Venture Investment program provides funding to economic development organizations in the commonwealth to provide seed and later-stage capital for existing and emerging companies involved in the development and commercialization of technologically advanced products and processes. Included in the nearly $123 million in Direct Venture Investment funding are the following:

Ben Franklin Technology Partners Central & Northern Pennsylvania – $19,678,479

Ben Franklin Technology Partners of Northeastern Pennsylvania – $19,678,479
Ben Franklin Technology Partners of Southeastern Pennsylvania – $19,678,479
Innovation Works, Inc. – $19,678,479
BioAdvance (Biotechnology Greenhouse Corporation of Southeastern Pennsylvania) – $14,758,859
LifeX Greenhouses, Inc. – $14,758,859

The Revolving Loan Fund program provides funding to economic development organizations to create or recapitalize revolving loan funds to support financing for Pennsylvania small businesses. Included in the more than $123.8 million in Revolving Loan Funds are:

Cumberland Area Economic Development Corporation – $211,650
EDC Finance Corporation – $5,071,000
Montgomery County Redevelopment Authority – $2,000,000

Pennsylvania CDFI Network – $45,000,000
SEDA – Council of Governments – $6,000,000
Women’s Opportunities Resource Center – $1,020,000
York County Economic Development Corporation – $5,000,000

Capital programs administered by economic development partners are scheduled to be open by Oct. 17. Small businesses will apply for funding through their economic development organizations.

Evonik cuts ribbon on Trexlertown Innovation Hub

U.S. Congresswoman Susan Wild, D-7; Ralph Marquardt, chief innovation officer of Evonik; Ute Wolf, CFO of Evonik, Pa.Gov. Tom Wolf; and Bonnie Tully president of Evonik North America; cut the ribbon on the new Evonik Innovation Hub in Trexlertown. PHOTO/STACY WESCOE –

German chemical company, Evonik, held a ribbon cutting Thursday at its new state-of-the-art Innovation Hub in Trexlertown.

Located on property Evonik purchased from Air Products about 6 years ago, the 30,000-square-foot space will be the centerpiece of growth at the two-building site said Tracey Mole, vice president of the Business & Innovation Center.

“This the first major milestone in our modernization project,” he said.

The space will be the center of the company’s global research and development efforts and will serve as a collaborative space where researchers, marketing and financing staff can all work together on innovation.

Pennsylvania Gov. Tom Wolf noted that the state helped fund the development of the center, which he called an important addition to the state and the Lehigh Valley.

“Evonik’s new, state-of-the-art space will build on Pennsylvania’s strength as a center for advanced manufacturing,” said Wolf. “I’m proud to have invested $2.5 million in this Innovation Hub that will bring new, good-paying jobs to the Allentown region.”

According to Evonik, the company employs 300 at the Trexlertown facility. The project is helping to retain more than 200 of those employees as well as adding 50 high-paying jobs in advanced manufacturing.

Ute Wolf, CFO of Evonik said having the center in Trexlertown will help the Lehigh Valley become the center of Evonik’s global growth.

“Innovation is very important. What we really brings us forward is new ideas and education,” she said.

To express the importance of innovation to Evonik, Ute Wolf noted that the company spends about $500,000 per year on research and development.

Jean Vincent, senior vice president of R&D, specialty additives, said the company’s research into high-performing plastics, used in applications from medical implants to football cleats, is the centerpiece of the company’s work at the facility, but the company also researches other things such as additives to insulation used in refrigerators to products that help make paint brighter.

“We research new chemistry applications of technology right down to the molecular level,” she said.

The Innovation Hub project was managed by Boyle Construction, and Mole said it won’t be the last new construction the company will have at the site.

“I would like to see the site continue to grow,” he said, noting the space to add new building was one of the features that attracted Evonik to purchase the property.

What attracted the company to locate in the Lehigh Valley in the first place, he said, was the region’s education landscape. He said with the large number of universities in the region, Evonik has a sizeable pool of highly educated and skilled talent to recruit from.

In fact, the company recently donated $100,000 to the Da Vinci Science Center in Allentown to help promote STEM (Science, Technology, Engineering and Math) education for young women.

Like many companies, Mole said Evonik was also drawn to the Lehigh Valley because of its geography. He noted it’s close to other innovation hubs like New York and Boston but has the affordability of living that offers a better quality of life for employees.

State invests $2 million to research climate change; improve technology

Pennsylvania is investing more than $2 million in research to battle the effects of climate change.

Gov. Tom Wolf today said six Pennsylvania organizations will receive grants for research on issues critical to sustaining and growing the state’s $132.5 billion agriculture industry.

Grant recipients include The Center for Dairy Excellence, Pasa Sustainable Agriculture, Pennsylvania State University, Rodale Institute, Stroud Water Research Institute, and University of Pennsylvania School of Veterinary Medicine.

“Investing in research and development helps Pennsylvania battle the effects of climate change and stay on the cutting edge of technology, disease prevention and pest control,” Wolf said. “We are feeding innovation that advances human and animal medicine, and produces cleaner water, healthier soil, and a safer, more abundant food supply to sustain our future.”

The grants fund a broad range of research aimed at safely controlling spotted lanternfly and other invasive insects; boosting pollinator effectiveness; developing new methods of detecting and preventing animal diseases; building a skilled workforce to sustain growth; and improving soil and water quality through regenerative farming methods.

Among the grantees are:

Rodale Institute, Berks County

Preparing a skilled agriculture workforce and fostering understanding of sustainable, regenerative farming methods — $500,000

Center for Dairy Excellence, Harrisburg

Studying implications for dairy farmers of proposed reforms to the federal Milk Marketing Order, the rules surrounding dairy processor milk purchases– $30,000

Pasa Sustainable Agriculture – Berks County

Supporting farmers in setting management goals for improving soil health and measuring resulting improvements — $135,000

Phoenix Tube Co. to create 30 jobs with expansion

Phoenix Tube Co. products – PHOTO/PROVIDED –

Phoenix Tube Company Inc., a manufacturer of stainless-steel products, is expanding its operation in Bethlehem which will create at least 30 full-time jobs.

“Phoenix Tube has called the commonwealth home for decades and we are thrilled to see them grow,” said Gov.Tom Wolf, in announcing the expansion. “This investment will create new, good paying manufacturing jobs that will boost the city and regional economy, strengthen our manufacturing industry, and help a longtime Pennsylvania company continue to thrive and succeed.”

Phoenix Tube is adding a new production line to manufacture small diameter stainless steel, titanium, and nickel alloy pressure tubing by constructing a 52,000-square-foot facility. The new facility will be located on a 2-acre company-owned parcel at 1085 Win Drive, adjacent to its existing facility of more than 250,000 square feet located on 15 acres.

“All of us at Phoenix Tube are very grateful to the state and local leaders who worked on our behalf to aid in this project,” said Andrew Reale, president, and David Reale, CEO, of Phoenix Tube.

“We are very excited to add to our product offerings and enter new markets that will enable us to continue to grow and expand our company,” they said. “For over 40 years we have been a proud member of both the state and local business communities, and this commitment further strengthens our relationships. We look forward to many more decades of being a successful corporate partner with the Commonwealth of Pennsylvania and with our many devoted and loyal team members.”

The company received a funding proposal from the Department of Community and Economic Development (DCED) for $2.65 million in Pennsylvania Industrial Development Authority (PIDA) loans, a $90,000 Pennsylvania First grant, a $50,000 workforce development grant to train its new workers and is encouraged to apply for the department’s Enterprise Zone Tax Credit and Manufacturing Tax Credit programs.

Phoenix Tube has committed to investing $8.1 million in the project, creating 30 new full-time jobs and retaining 135 existing jobs within the next three years.

The project was coordinated by the Governor’s Action Team.

“It’s great to see Phoenix Tube’s continued growth here in the Lehigh Valley with the help of the commonwealth,” said Don Cunningham, president & CEO of the Lehigh Valley Economic Development Corporation. “Phoenix Tube is part of the expanding manufacturing sector in the Lehigh Valley, which last year became one of the 50 largest markets in the U.S. with more than 700 manufacturers employing 35,000 people and generating nearly $8 billion in annual GDP.”

Berks County project chosen for Business In Our Sites grant and loan

A project in Berks County is among nine to receive approval through the Commonwealth Financing Authority (CFA) that will empower communities and economic development partners to attract businesses by building an inventory of ready sites.

Gov. Tom Wolf said Tuesday the Business In Our Sites (BOS) projects, totaling $48,710,441 in grants and loans will increase the state’s ability to attract businesses that create family-sustaining jobs.

“Pennsylvania’s strong competitive advantage is reinforced by the funding approved today,” said Wolf. “Between our prime location, our skilled workforce, and our excellent infrastructure, the commonwealth has a lot to offer current and potential businesses. This BOS funding is a great tool that provides the resources needed to build pad-ready sites to increase Pennsylvania’s ability to attract and retain businesses.”

The Berks County Industrial Development Authority was approved for a $2,802,411 grant and a $4,203,617 loan to help fund infrastructure development within Berks Park 183 in Bern Township.

Three local apprenticeship programs to receive portion of $4.9 million state grant

Three apprenticeship programs in central Pennsylvania and Lehigh Valley are among 14 awarded grants totaling $4.9 million, Gov. Tom Wolf said.

“Throughout history, apprenticeships have been a vital part of career education in certain fields,” Wolf said. “Through these important grants, we are offering more Pennsylvania workers opportunities to train for family-sustaining jobs while helping businesses develop a workforce that will strengthen our economy and the communities most in need.”

Each of the 14 potential or currently registered apprenticeship or pre-apprenticeship programs will use this grant funding to develop diverse talent pipelines, reach underrepresented populations, and expand workforce development opportunities in the building and construction trades across 55 counties.

The local grants were awarded to:

Berks Connections Pretrial Services, $290,370, to expand and enhance Rebuilding Reentrants and Reading (R3), a registered pre-apprenticeship program in the construction trades that exclusively serves reentrants. The project will broaden the scope of R3 to include a welding component and a woodworking skills component. This program will serve a diverse and traditionally underserved population.
Insulators Local 23 Joint Apprenticeship Training Committee, covering Adams, Berks, Centre, Cumberland, Dauphin, Franklin, Fulton, Huntingdon, Juniata, Lancaster, Lebanon, Lehigh, Mifflin, Northampton, Perry, Schuylkill, Snyder and York counties, $264,981, to grow their registered apprenticeship training program and work toward establishing a pre-apprenticeship program.
TLC Work-Based Training Program, Inc., Dauphin County, $400,000, to continue offering practical learning for the in-demand construction trade acting as a community-based collaborative problem-solving model to address poverty and joblessness. TLC-WBT currently provides apprenticeship opportunities as well as a paid construction training program for people ages 17-25 to benefit veterans, ex-offenders, hard-to-place individuals, at-risk youth, and low- and moderate-income people.

“Apprenticeship offers workers the opportunity to advance their careers while earning a paycheck, and it empowers employers to develop the specific skills they need among their employees to be successful in a dynamic economy. We need to make sure this workforce development model is accessible to workers of all backgrounds,” Department of Labor & Industry (L&I) Secretary Jennifer Berrier said.

“Giving all Pennsylvanians the opportunity to earn wages while learning in-demand skills is a major step toward achieving diversity, equity and inclusion among the commonwealth’s workforce,” she said.

The grants, offered through L&I’s Apprenticeship and Training Office (ATO), are part of Governor Wolf’s PA Statewide Movement for Accountability, Readiness and Training (PAsmart) framework, created to better align education, workforce and economic development initiatives and funding.

Tax bill to reduce Corporate Net Income Tax on way to governor

Reducing the Corporate Net Income Tax in Pennsylvania will improve the business climate when the new legislation is signed by Gov. Tom Wolf, according to the Pennsylvania Chamber of Business and Industry.

The chamber applauded state lawmakers and Wolf for the passage of House Bill 1342, which reforms the state’s tax structure, including a reduction to the state’s Corporate Net Income Tax rate and notable tax relief for small businesses.

“This monumental tax reform package is a win for businesses and the people of Pennsylvania,” said Luke Bernstein chamber president and CEO. “Pennsylvania has so much to offer potential investors and entrepreneurs. These tax reforms instantly make us more globally competitive and allow us to focus on Pennsylvania’s strengths as a hub of global commerce and opportunity – our prime location, world-class educational institutions, innovative workforce and more.”

The bill passed the senate last night by a vote of 38-12. The house approved the measure 184-16.

“We are proud to stand with the leaders of the House and Senate, Governor Wolf and other legislative champions of business who supported these vast improvements to our state’s competitiveness,” Bernstein said.

The tax reform package, which was a top legislative priority for the chamber for decades, is a major step towards showing that Pennsylvania is open for business, he said.

For decades, Pennsylvania’s CNIT rate, which at 9.99% was the highest flat rate in the country, served as a barrier to growth, Bernstein said.

The budget cuts the rate in half over the course of nine years – starting with a full one percent reduction in 2023 to 8.99% and then phasing down each year by half a percent until reaching 4.99% in 2031.

Based on current state corporate tax rates, the full reduction takes Pennsylvania from the highest CNI tax rate in the country to the sixth lowest by 2031 and is the first change in the rate since 1995 – giving the state’s economy a vigorous boost in its post-pandemic recovery, he said.

The benefits of a more competitive business tax code go far beyond just improving the state’s business climate, according to the chamber. Studies have shown that a decrease in the corporate tax rate leads to increased GDP, higher wages and increased home values, all of which create family sustaining jobs and attract and retain new talent.

The newly passed tax reform package also includes additional relief for small businesses, affording businesses the opportunity to defer personal income tax liabilities through “like-kind exchanges” of certain property, another long-sought after member-centric goal of the PA Chamber, Bernstein said.

This provision allows employers to invest in the job-creating assets businesses need to stay competitive. Previously, Pennsylvania was the only state in the country that did not offer this type of deferral, he said.

An additional component of the package aligns the state Tax Code with federal tax law by allowing small businesses to deduct qualifying equipment purchases from personal income tax liabilities, just as federal tax law provides for under Section 179. This change makes it easier for employers to buy equipment and invest, which in turn promotes job growth.

“This long sought-after overhaul of Pennsylvania’s business tax structure would not have been possible without a bipartisan, collaborative effort,” Bernstein added.

“We thank our legislative leaders for working with Governor Wolf and ensuring this tax reform package was part of this year’s budget, prioritizing the Commonwealth’s competitiveness and working alongside the Chamber, together for Pennsylvania,” he said. “We look forward to seeing the Governor sign this historic reform into law.”

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Awards for affordable rental housing total more than $92 million

Production, promotion of Pa. beers and wines gets nearly $2 million boost from PLCB grants

Evonik cuts ribbon on Trexlertown Innovation Hub

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