State Senate Pushes Plan To Cut Corporate Taxes

HARRISBURG, Pa. (AP) – The Pennsylvania Senate is advancing two competing plans to slash the state’s corporate net income tax rate. Democrats warn the bills are premature because there’s no agreement with Gov. Tom Wolf. The bills passed Wednesday on a nearly party-line basis in twin votes in the Republican-controlled chamber. The Democratic governor has said he is optimistic about coming to an agreement with Republicans on a plan to cut taxes for corporations that pay Pennsylvania’s 9.99% tax rate. That’s one of the nation’s highest. Wolf has yet to agree to a plan as part of this month’s budget negotiations. The state House in April passed yet another plan.