Chamber Positions Support Business
The Lower Bucks County Chamber is a strong advocate for business! Through the Board of Directors, LBCCC takes positions on numerous important issues. These views are communicated to elected officials, and others in positions of authority. Members are also encouraged to share their views. A summary of recent positions follow:
Included in the reforms of the bill would be a gradual, 10-year reduction of Pennsylvania’s Corporate Net Income tax to 6.99 percent. At 9.99 percent, the Commonwealth’s current CNI is the highest effective rate in the country when combined with the federal rate, and is a definite barrier for businesses looking to invest and expand in Bucks County and the entire state of Pennsylvania.
In addition, House Bill 440 proposes increasing the cap on Net Operating Loss carry-forwards, which would particularly help research and development, start-up and cyclical businesses; and includes language that passed the state House last session with bipartisan support.
Pennsylvania lags behind most states with regard to corporate taxes, ranking 44th in this category according to the Tax Foundation’s State Business Tax Climate Index for 2011-12. Despite changes to the Commonwealth’s business taxes over the years, the economic boom of the mid-to-late 1990s and increased international competition allowed most of Pennsylvania’s competitors to significantly reduce their business tax burdens. However, Pennsylvania’s continued poor ranking hurts its national and global competitiveness.
The Lower Bucks County Chamber of Commerce joins with the PA Chamber in stressing support to elected officials that passing H.B. 440 and any other pro-growth business tax reforms are necessary to regain Pennsylvania’s economic strength, reduce financial burdens on job creators and increase private sector investment.
Adopted – May, 2013
With the leadership of Chairman Loughery as well as the ongoing efforts of the Commissioners’ Economic Development Council (CEDC), and the 2012 Municipal Economic Development Initiative, the Chamber strongly believes this vision can be the first steps of a much needed collaborative and comprehensive, business growth and job creation platform for the County.
The Chamber (LBCCC) supports effective, strategic public and private economic development partnerships which meet the needs of the business community. Creative economic development is the spark that leads to job creation and a vibrant business community. Enhanced accountability, collaboration and transparency with economic development programs at the municipal, county and state levels will help remove barriers that stymie business growth and lead to true economic growth.
The Lower Bucks Chamber is eager, open and ready to work with the Commissioners, other Chambers, the business community and municipal leaders to assist in delivering a new economic engine for Bucks County which allows for creative business innovation and unique collaborations for growth and prosperity throughout the County’s business community.
Dan Bates, President
Lower Bucks County Chamber of Commerce
The Lower Bucks County Chamber of Commerce(LBCCC) applauds PennDot for moving forward on this important project to improve safety and access. This project will do more than simply modernize this section of the Route 13 Corridor. It will have the added benefit of improving commerce and supporting positive economic development.
The LBCCC also recognizes TMA Bucks in their advocacy and support of this project. Their efforts have kept this long-awaited project at the fore-front of the legislative agenda for the benefit of the business community. TMA Bucks tirelessly solicited support for this project based on its potential to positively impact safety and economic development.
Public transportation offers significant benefits to our economy, our quality of life, and our environment, but has been chronically underfunded in Pennsylvania. Too many of our roads, bridges and mass transit systems desperately need repair. The LBCCC asks our legislators to give thoughtful consideration to increasing funding for Pennsylvania’s transportation systems with a focus on fixing and maintaining existing infrastructure rather than spending resources on new projects.”
Lower Bucks County Chamber of Commerce