HARRISBURG, PA – July 11, 2024 – Sen. Lisa Boscola (D-Northampton) shared her views on the passage of the State budget as it heads to the Governor’s desk.
A longtime advocate for school property tax reform, Boscola said, “while every school district in the 18th received increased funding, I am disappointed this budget missed out on providing significant property tax relief for homeowners.” School districts in the 18th Senatorial District received nearly $19 million in increased funding, with over $2.3 million of that being reimbursement for district’s Cyber Charter payment obligations. However, the budget failed to offer property tax relief for homeowners through any meaningful programs. Boscola plans to continue her push for property tax reform.
Sen. Boscola also praised the passage of the State budget for its investments in Pennsylvania’s economic future and workforce development.
“The SPEED program, net-operating-loss carry forward, historic preservation tax credit, and PA SITES program represent our commitment to economic development across Pennsylvania,” said Sen. Boscola. “These initiatives are good for business and will make our state more competitive in attracting businesses and fostering growth.”
The Streamlining Permits for Economic Expansion and Development Program (SPEED) will expedite business projects through enhanced permitting processes, supported by additional staff and third-party reviews. The net-operating-loss (NOL) carry forward increase from 40% to 80% over four years provides critical financial stability for start-up businesses, encouraging innovation and growth.
Additionally, the expansion of the Historic Preservation Incentive Tax Credit and the infusion of $500 million through the PA SITES program will improve infrastructure readiness, positioning Pennsylvania as a prime location for business expansion.
Regarding the budget’s focus on workforce development, Sen. Boscola focused on initiatives such as the Employer Child Care Contribution Tax Credit, which offers businesses a tax credit for childcare expenses paid towards an employee’s eligible child-care costs. Additionally, the Grow Pennsylvania Scholarship Grant Program supports students who stay and work in PA with grants up to $5,000 annually.
“As we invest in programs like the Child Care Tax Credit and the Grow Pennsylvania Scholarship, we are not only supporting working families but also ensuring that Pennsylvania retains its talented graduates in high demand fields,” Sen. Boscola emphasized. “These initiatives are crucial for building a robust workforce that will drive our state’s economy forward.”
“Alongside a number of important investments, this budget underscores our commitment to fostering economic growth while investing in our workforce,” Sen. Boscola added. “By supporting businesses and educational opportunities, we are laying a foundation for sustainable prosperity and competitiveness across Pennsylvania.”