VIDEO: Governor Wolf Discusses Rebuilding the Middle Class in New Web Video, Visits Berks County on “Jobs that Pay Tour”

April 16, 2015

Harrisburg, PA – Today, Governor Tom Wolf visited East Penn Manufacturing in Berks County and released a new Jobs That Pay video to highlight his proposals to rebuild the middle class, reinvigorate Pennsylvania’s manufacturing sector, and ensure more workers have the skills that employers demand. Governor Wolf’s budget makes significant new investments in manufacturing, economic development and workforce training aimed at rebuilding Pennsylvania’s middle class while reducing the corporate net income tax by 40 percent immediately.

“To rebuild the middle class, we need new ideas to create jobs that pay and policies that support our manufacturing and new growth industries,” Governor Wolf said. “Coming from the private sector, I know we must make new investments in 21st century manufacturing and refocus our economic development dollars and strategies. The commonwealth can help set the table for robust private sector growth to create and retain good jobs while strengthening the middle class.”

WATCH:  #JobsThatPay: It’s time to rebuild the middle class

Here’s how Governor Tom Wolf’s 2015-2016 budget brings jobs that pay back to Pennsylvania:

Cuts Corporate Net Income Tax in Half: Pennsylvania’s Corporate Net Income (CNI) Tax is driving companies and jobs out of our state. Governor Wolf’s budget incentivizes companies to come to Pennsylvania by reducing the Corporate Net Income Tax by 50 percent by 2018, flipping Pennsylvania’s ranking from the second highest rate nationwide (9.99%) to the fourth lowest rate (4.99%).

Closes the Delaware Loophole: The corporate net income tax rate isn’t our only outdated tax structure. Existing loopholes in the tax code allow many companies to avoid paying state income taxes altogether – more than 70 percent of companies that do business in Pennsylvania don’t pay corporate net income taxes at all. Governor Wolf’s budget will close the Delaware loophole and level the playing field for Pennsylvania businesses.

Launches a “Made in Pennsylvania” Job Creation Program: Governor Wolf’s budget brings manufacturing jobs back to our state with the “Made in Pennsylvania” cash-back jobs program that rewards manufacturing companies that create good-paying, middle class jobs in Pennsylvania. Manufacturing jobs are good, family-sustaining jobs, and here in Pennsylvania we can make things again.

Invests in Workforce Development Through Industry Partnerships: Governor Wolf’s budget eliminates the disconnect between our education systems and the state’s economy by increasing funding for programs that provide Pennsylvania citizens with the technical training necessary to succeed in the 21st century.

“There’s no reason why we can’t have the most dynamic economy and the strongest middle class, said Governor Wolf. “We still have the most innovative, resilient people anywhere. But the reality is that times have changed, and ideas that may have worked in the past simply aren’t working anymore. Now is the time to take the bold steps necessary for Pennsylvania to succeed in the modern economy.”

MEDIA CONTACT: Jeff Sheridan – 717.783.1116

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