Tags: jobs | incentives | economics | withholding

Pa. Bill Would Allow Companies to Keep Worker Taxes

By    |   Monday, 22 Oct 2012 02:47 PM

Pennsylvania GOP Gov. Tom Corbett hasn't decided yet whether he'll sign a bill allowing companies that create enough new jobs to keep most of the state income taxes held back from their workers.
 
The bill passed by both the state Senate and House would let companies that create at least 250 new jobs in five years keep 95 percent of the taxes they collect, reports the Pittsburgh Post Gazette.
 
The jobs would have to pay at least as much as the median income in the counties where they're created.
 
Corbett, apparently concerned about the legality of the measure, is having state attorneys examine it before signing or commenting on it.
 
The state's business leaders are also weighing the implications of the measure, both as an economic incentive an as a legal matter.
 
"At first blush reaction, withholding someone's personal income tax and then letting the employers keep it, I can see someone saying, 'Can we do that?' " said David Patti, president and CEO of the Pennsylvania Business Council.
 
Critics say the bill crosses the line because it allows businesses to keep employees’ money.
 
"Certainly it can give the impression that individuals are paying their bosses for their jobs,” said Sharon Ward, director of the Pennsylvania Budget and Policy Center.
 

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Pennsylvania GOP Gov. Tom Corbett hasn't decided yet whether he'll sign a bill allowing companies that create enough new jobs to keep most of the state income taxes held back from their workers.
jobs,incentives,economics,withholding
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2012-47-22
Monday, 22 Oct 2012 02:47 PM
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