During February 2022, Gov. Tom Wolf announced his final proposed budget as governor of Pennsylvania. His proposed budget for the 2022-23 fiscal year calls for some important changes to the commonwealth’s tax system, which will be discussed below. While some of the proposed changes are the same or similar to previous years, there are also important differences. Will those differences allow the governor to make headway with a legislature that has steadfastly resisted his tax policies?

Making Pennsylvania Competitive

Over his years in office, Wolf has consistently proposed reductions to the CNIT rate. The latest budget proposal would lower the CNIT incrementally to finally rest at 4.99% by 2028.