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Pennsylvania Senate passes bill to cut income tax rate

Pennsylvania Senate passes bill to cut income tax rate
ACCEPTABLE. ALSO NEW TONIGHT, A BILL TO HELP WORKING FAMILIES PASSES IN THE STATE SENATE. SENATE BILL 6269 REDUCES THE PERSONAL INCOME TAX FROM 3.07% TO 2.8%. IT WOULD ALSO ELIMINATE THE GROSS RECEIPTS TAX ON ENERGY TO PROVIDE RELIEF FROM HIGH ENERGY COSTS. REPUBLICANS SAY THIS WILL HELP NOT ONLY WORKERS, BUT SMALL BUSINESS OWNERS. ALL OF YOU ARE DESERVING OF GETTING YOUR HARD EARNED TAX MONIES BACK, AND OVER THE NEXT FIVE YEARS, THAT’S TO THE TUNE. OF $13 BILLION.
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Pennsylvania Senate passes bill to cut income tax rate
The Pennsylvania Senate on Tuesday passed a bill to reduce the personal income tax rate.Senate Bill 269 would lower the PIT from 3.07% to 2.8%.It would also eliminate the gross receipts tax on energy to provide relief from high energy costs. Republicans said this would represent the largest tax cut for working families in the commonwealth’s history, saving taxpayers more than $13 billion over the next five years."Putting this money back in the pockets of consumers, taxpayers and job-creators is the best and fairest way to address the challenges we face," said Sen. Scott Martin, R-Lancaster/Berks. "Rather than increasing the size of government and picking winners and losers with massive new spending and programs, we are investing money in all Pennsylvanians and sending a strong signal that our commonwealth is open for business."The bill now moves to the House for consideration.

The Pennsylvania Senate on Tuesday passed a bill to reduce the personal income tax rate.

Senate Bill 269 would lower the PIT from 3.07% to 2.8%.

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It would also eliminate the gross receipts tax on energy to provide relief from high energy costs.

Republicans said this would represent the largest tax cut for working families in the commonwealth’s history, saving taxpayers more than $13 billion over the next five years.

"Putting this money back in the pockets of consumers, taxpayers and job-creators is the best and fairest way to address the challenges we face," said Sen. Scott Martin, R-Lancaster/Berks. "Rather than increasing the size of government and picking winners and losers with massive new spending and programs, we are investing money in all Pennsylvanians and sending a strong signal that our commonwealth is open for business."

The bill now moves to the House for consideration.