“We can no longer afford to lose our precious talent and billions of dollars in new business investments to other more competitive states.”

Jason Fink, president and CEO of the Williamsport-Lycoming Chamber of Commerce made the case for a reduction in the state’s corporate tax rate very effectively in the latest edition of Chamber Connection, a partnership publication between Williamsport newspaper and the chamber. His conclusion, stated above, succinctly captures both the importance and the urgency of the state correcting this burdensome tax rate this year.

Pennsylvania’s corporate tax rate is 9.99 percent — the highest in the country. As we have noted on this page before, many of our neighboring states have significantly lower corporate tax burdens.

West Virginia has a corporate tax rate of 6.5 percent, according to the Tax Foundation. Virginia’s tax rate is 6 percent. Indiana’s is 5.25 percent. Even New York, which typically ranks at the bottom of the Tax Foundation’s rankings every year, has a corporate tax rate lower than Pennsylvania’s at between 6.4% and 7.25%.

As Fink notes, all of these states subsequently have an advantage when attracting employers to build new facilities. Pennsylvania is losing out on opportunities — those that will provide better futures for our families and, as they enter the workforce, for our young people.

The state would be irresponsible to allow this chance for tax relief to slip by again.