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Today, Governor Tom Wolf joined business leaders and members of the General Assembly to celebrate the state’s corporate net income tax (CNIT) reduction, which will take effect Jan 2023.
With a $45 billion state budget finally implemented, Pennsylvania schools, businesses and housing projects are the big winners. Each is slated to receive substantially more funding in the new fiscal year.
Pennsylvania has a finalized budget, which includes an increase in spending by 2.9% over 2021-22 and a $2.1 billion deposit to the state's Rainy Day Fund.