Erie County Times

Gov. Tom Wolf recently had his 2022-23 budget approved which includes major investments in education, business, and the environment. Representatives of organizations across the state praised him for his work.

There is a “historic” increase of $1.8 billion in funding for education and other investments for safer communities, workforces and businesses included in the $45.2 billion budget, according to a July 15 press release. Pennsylvania Chamber of Business and Industry President and CEO, Luke Bernstein, thanked Wolf and the House and Senate for their bipartisan work in creating a solid budget. He gave “deep thanks” to the 222 House and Senate members 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 much to offer investors and entrepreneurs, Bernstein added.

“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,” Bernstein said.

Better PA Acting Executive Director, Jan Jarrett, also applauded Wolf for his leadership in getting the budget passed.

“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 Governor Wolf’s effective prioritization of early childhood education throughout his two terms in office,” Jarrett said. “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 Governor Wolf for his leadership on this critical issue, and we welcome the bipartisan support throughout budget negotiations.”