Harrisburg, Pennsylvania – July 11, 2024 – Sen. Lisa Boscola (D-Northampton) offered her thoughts on passing the state budget as it reaches the governor’s desk.
“All 18 school districts are in the tax zone,” said Boscola, a longtime advocate of school property tax reform.Number Despite the budget increases, we are disappointed that this budget does not provide significant property tax relief for homeowners.” 18 school districtsNumber The Senate district received about $19 million in increased funding, with more than $2.3 million of that going to repay the district’s cyber charter payment obligations. However, the budget failed to provide homeowners property tax relief through any meaningful program. Boscola plans to continue pushing for property tax reform.
Senator Boscola also praised the passage of the state budget as an investment in Pennsylvania’s economic future and workforce development.
“The SPEED Program, net operating loss carryforwards, historic preservation tax credits, and the PA SITES Program demonstrate our commitment to economic development across Pennsylvania,” said Senator Boscola. “These initiatives are good for business and make our state more competitive in attracting companies and encouraging growth.”
The Streamlining Permitting for Economic Expansion and Development (SPEED) program will enhance the permitting process to expedite business projects with additional staff and third-party review support, and an increase in net operating loss (NOL) carryover from 40% to 80% over four years will provide critical financial stability for emerging businesses and encourage innovation and growth.
Additionally, an expansion of Historic Preservation Incentive Tax Credits and an infusion of $500 million through the PA SITES program will improve infrastructure readiness and position Pennsylvania as a leading location for business expansion.
Regarding the budget’s focus on workforce development, Senator Boscola highlighted initiatives such as the Employer Child Care Contribution Tax Credit, which provides businesses with a tax credit for child care costs paid as qualified child care expenses for employees. Additionally, the Grow Pennsylvania Scholarship Grant Program will support students who stay and work in Pennsylvania with grants of up to $5,000 per year.
“By investing in programs like the Child Welfare Tax Credit and the Pennsylvania Growth Scholarship, we are not only supporting working families but also ensuring Pennsylvania’s best graduates in high-demand fields,” Senator Boscola emphasized. “These efforts are essential to building a strong workforce that will drive our state’s economy forward.”
“Alongside many other critical investments, this budget underscores our commitment to fostering economic growth while investing in our workforce,” Senator Boscola added. “By supporting businesses and educational opportunity, we are laying the foundation for sustainable prosperity and competitiveness across Pennsylvania.”
