Fair Share Tax Plan
This is an attempt to bring taxation equity to PA while penalizing small businesses. There are 3 options to this bill. One of the options will be chosen to move forward.
Option One would raise $2.6 billion in new tax revenue. Under this plan, the personal income tax on wages and interest would decrease from 3.07 percent to 2.8 percent, and the income tax would increase to 6.5 percent on passive income from things like net profits, dividends, net gains derived from rents, royalties, patents and copyrights, gambling and lottery winnings and net gains derived through estates and trust.
Option Two would raise $6.22 billion annually by decreasing the income tax on wages and interest to 1.9 percent and increasing the tax on passive income to 12 percent.
Option Three is a middle-ground between the first two options, decreasing the income tax on wages and interest to 2.35 percent and increasing the tax on passive income to 9.25%.
The Go Big Small Biz Network strongly opposes this proposed bill. While it seems favorable to the employees of small businesses, these measures would severely burden small business owners, leading to inflation, job losses, and even closures. Closed businesses in our community means no jobs. This is Government Overreach at it’s finest, attacking the backbone of our economy, small businesses.
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Other legislation that could impact your business
HB 8147 would Repeal the Corporate Transparency Act.
Vote Yes on HB 8147
Several bills are in the House or Senate proposing Pennsylvania raise the mandatory minimum wage anywhere from $15–$21 an hour.
Go Big Small Biz Network opposes this legislation as it will drive up the already untenable costs facing small business employers and ultimately, put those who need low-skill jobs out of work.
“Keystone Saves” is a proposed state-backed program that would mandate employers to enroll their employees into an IRA (Individual Retirement Account) with the hope that employees would contribute to the account and rely on it for retirement.
Go Big Small Biz Opposes this legislation as an impractical solution to address the lack of retirement savings in the workforce and will unfairly burden small business owners who are more likely to not have a company sponsored retirement plan.
A mandated payroll deduction directly from employee wages, equivalent to the cost of an almost 20% increase in the state personal income tax and requires that employers offer up to 20 weeks of leave.
Go Big Small Biz Network Opposes this legislation as employers should be free to set leave policies that balance the interest of employees and the sustainability of the business as a whole.
Proposed legislation that would require a reduction of the standard workweek for businesses with more than 500 employees from 40 hours per week to 32 hours per week without a reduction in pay for workers.
Go Big Small Biz Network opposes this action as government overreach as it could increase employer costs by up to 20% and create an employee shift from small business to big business.
This Bill could prohibit employers from classifying works as independent contractors.
Go Big Small Biz Network opposes this government overreach into our small business community.