The Pennsylvania Chamber of Business and Industry joined several chambers of commerce across the state, as well as chambers across the country and the U.S. Chamber of Commerce in urging Congress to make the tax cuts of 2017 permanent.
In a letter from nearly 500 chambers and other business organizations, the chambers called for Congress to adopt a current-policy baseline in its budget resolution to extend the temporary provisions of the 2017 Tax Cuts and Jobs Act (TCJA). The Chambers said the move would promote economic growth and prevent tax increases and urged Congress to make that their top priority this year.
“As lawmakers contemplate advancing tax reform legislation through budget reconciliation this year, the importance of adopting the appropriate budget baseline cannot be overstated. We believe it is imperative that Congress adopt a current-policy baseline,” the letter said. “Adopting a current-policy baseline would avoid a $4 trillion dollar tax increase on American families and employers by creating a pathway for Congress to make the TCJA permanent. Doing so would provide businesses the certainty and stability they need to make the long-term investments that drive growth, accelerate productivity, and increase prosperity across all segments of the economy.”
Other chambers from Pennsylvania signing the letter included the Allegheny Conference on Community Development, Butler County Chamber of Commerce, Cambria Regional Chamber, Carlisle Area Chamber of Commerce, Chester County Chamber of Business and Industry, Clarion Area Chamber of Business & Industry, Columbia Montour Chamber of Commerce, Delaware County Chamber of Commerce, Greater Latrobe-Laurel Valley Regional Chamber of Commerce, Hanover Area Chamber of Commerce, Harrisburg Regional Chamber, Huntingdon County Chamber of Commerce, Indian Valley Chamber of Commerce, Lancaster Chamber of Commerce, Lawrence County Regional Chamber of Commerce, Lebanon Valley Chamber of Commerce, Schuylkill Chamber of Commerce, Shenango Valley Chamber of Commerce, Somerset County PA Chamber, Southern Chester County Chamber of Commerce, Westmoreland County Chamber of Commerce, Williamsport/Lycoming Chamber of Commerce, and the Wyoming County Chamber of Commerce.