PHILADELPHIA, PA – The Chamber of Commerce for Greater Philadelphia (the Chamber) recognizes the effort lawmakers put in to reach consensus on Pennsylvania’s FY2026-27 Budget, which includes several provisions that matter for Pennsylvania’s economic competitiveness and residents’ economic mobility. 

This budget maintains the Commonwealth’s commitment to a more competitive tax structure, including continuing the scheduled phase-down of the Corporate Net Income Tax and preserving increases in the Net Operating Loss carryforward limit. Together, these provisions give businesses greater certainty as they plan long-term investment in Pennsylvania. 

The inclusion of funding for the governor’s Innovate in PA 2.0 initiative will strengthen the life sciences and biotech sectors and create new workforce opportunities. The Chamber has long called for the creation of an innovation fund in Pennsylvania. We commend the governor and legislature for continuing to execute Pennsylvania’s Economic Development Strategy. 

We remain concerned that lawmakers have not yet prioritized a statewide multimodal transportation investment, which must include a sustainable funding solution for mass transit. Safe and reliable public transit is an economic competitiveness and mobility issue, not just a transportation issue. Over the next year, we urge lawmakers to focus on transportation, which must strengthen our public transit assets and adequately fund our roads and bridges.

We believe Pennsylvania’s surest path to long-term fiscal strength is continued progress toward a business climate that attracts private investment, grows existing employers, and expands the tax base. A larger, more dynamic economy is what will generate the resources Pennsylvania needs to invest in schools, infrastructure, and public services for years to come. We look forward to working with legislative leaders to keep Pennsylvania moving in that direction. 

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About the Chamber of Commerce for Greater Philadelphia

The Chamber of Commerce for Greater Philadelphia works together with members, investors, and stakeholders, to realize our bold vision: Greater Philadelphia is a top global destination for business and a leader in inclusive growth. As the metro-regional chamber of commerce serving the 11-county, tri-state Greater Philadelphia region, we are the premier organization to convene and connect business, government and civic leaders to drive economic growth and prosperity for all.

Contact:
Shannon McLaughlin
smclaughlin@chamberphl.com