Tom Wolf | governor.pa.gov
Tom Wolf | governor.pa.gov
Last week, various state organizations praised Gov. Tom Wolf's work in securing approval for his 2022-23 budget, which includes major investments in education, local businesses and the environment.
According to a July 15 press release from the governor's office, the $45.2 billion capstone budget includes “long-overdue investments,” and a “historic” increase of $1.8 billion in funding for education, and other investments for safer communities, workforces, businesses and natural resources.
“The historic investment in pre-k in this year’s budget – an investment in our most precious resource, our kids, and their futures – is the culmination of Gov. Wolf’s effective prioritization of early childhood education throughout his two terms in office,” Better PA Executive Director Jan Jarrett said.
Organizations praised Gov. Wolf for his 2022-23 budget.
| governor.pa.gov
“This year’s increase of $79 million to improve and make more accessible, quality early-childhood education across the state will pay dividends for years to come. We applaud Gov. Wolf for his leadership on this critical issue, and we welcome the bipartisan support throughout budget negotiations.”
Pennsylvania Chamber of Business and Industry President and CEO Luke Bernstein thanked Wolf, the House and the Senate for their bipartisan work and thanked the 222 state congressmen who voted yes.
“Act 53 of 2022 improves Pennsylvania’s economic competitiveness by providing relief to small businesses, along with immediate and continued reductions to the state’s Corporate Net Income Tax (CNIT),” Bernstein said. “By 2031, the end of the scheduled reductions, Pennsylvania’s rate of 4.99% will be the sixth lowest in the nation (based on current state corporate tax rates).
"Pennsylvania has so much to offer 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.”
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