Legislation Would Give Western PA Small Businesses 10% Tax Credit When They Hire, Increase Wages
PITTSBURGH, PA- With a vote coming this week, U.S. Senator Bob Casey (D-PA) revealed the regional impact of a bill he has coauthored that could help over 55,000 Western Pennsylvania businesses create jobs.
Standing at MAYA Design and joined by the company’s CEO, Mickey McManus, and Audrey Russo of the Pittsburgh Technology Council, Senator Casey made the case that passing the bill he has coauthored, the Small Business Jobs and Tax Relief Act of 2012, would create jobs by giving small businesses a 10% tax credit when they hire new workers or increase wages for existing workers.
“The legislation I have been fighting for since 2010 would give Pennsylvania’s small businesses a 10% tax credit for hiring or increasing wages and provide an immediate boost to the economy,” Senator Casey said. “This week Congress will have an opportunity to help small businesses create jobs, and I’m hopeful we can come together in a bipartisan manner to move this bill forward.”
The legislation would give small businesses a 10 percent income tax credit on new payroll for hiring new workers or increasing employee wages.
According to the Congressional Budget Office (CBO), a tax credit based on increased payroll would create the most jobs and have the greatest positive impact on America’s gross domestic product (GDP) when compared to other job creation policies currently under debate.
The credit will be available for one year beginning with the first full quarter following enactment.
Businesses all across Western Pennsylvania could benefit from the passage of this tax credit:
- In Allegheny County there are 26,413 small businesses
- In Washington County there are 4,196 small businesses
- In Greene County there are 577 small businesses
- In Fayette County there are 2,358 small businesses
- In Somerset County there are 1,547 small businesses
- In Westmoreland County there are 7,722 small businesses
- In Cambria County there are 2,875 small businesses
- In Indiana County there are 1,697 small businesses
- In Armstrong County there are 1,173 small businesses
- In Butler County there are 3,871 small businesses
- In Beaver County there are 2,826 small businesses
- In Lawrence County there are 1,703 small businesses
MAYA Design is a leading technology design and innovation lab that turns human experiences with technology products into positive, fruitful interactions. For over 20 years, MAYA’s team of experts in human sciences, engineering and visual design have been working with a range of Fortune 500 companies and start-up businesses to design innovative products and solutions that improve the interactions between people and information.