Governor Josh Shapiro has taken action over the last two years to reduce costs and lower taxes more than four times – easing the burden on families, seniors, and businesses across the Commonwealth
Scranton, PA – Today, Governor Josh Shapiro visited small businesses in downtown Scranton during the holiday season to highlight his Administration’s efforts to cut taxes, deliver real economic relief for Pennsylvania families, and invest in the Main Streets and small businesses that are driving economic growth in communities all across our Commonwealth.
The Governor was joined by Scranton Mayor Paige Cognetti and President & CEO of Scranton Tomorrow Leslie Collins, along with legislators and small business owners, who shared how these initiatives are making a difference in their community. Since taking office, Governor Shapiro has focused on creating economic opportunity, cutting red tape for businesses, and supporting families and seniors all across Pennsylvania. The Governor has also brought Republicans and Democrats together to cut taxes, saving Pennsylvanians money and helping them get ahead.
“With the holiday season here, we’re delivering real relief to Pennsylvanians by cutting taxes and putting more money back into their pockets,” said Governor Shapiro. “My Administration is committed to lowering costs, supporting small businesses, and revitalizing the Main Streets like the ones here in northeastern Pennsylvania that are the backbone of our communities. With these investments, we are strengthening the heart of our communities and building a future where families and businesses can thrive all across Pennsylvania.»
“We’re thrilled to celebrate everything that makes downtown Scranton so special during the holidays — our vibrant shopping scene, incredible restaurants and bars, and the lively activities that bring people together,” said Mayor Cognetti. “This season highlights the incredible investments happening in our city, from beloved family-run businesses that have been here for generations to new entrepreneurs choosing Scranton as the place to grow and thrive. It’s an exciting time to be part of this community.”
Driving Economic Growth and Cutting Costs for Families
This holiday season, Pennsylvanians are feeling the impact of Governor Shapiro’s tax cuts — aimed at lowering costs and putting more money back in their pockets. Under his leadership, Pennsylvania has:
· Secured over $3 billion in private-sector investments by reducing red tape and making the Commonwealth a top destination for business growth. For example, the Administration reduced business filing processing times from eight weeks to just two days.
· Expanded the Child and Dependent Care Enhancement Tax Credit, delivering $136 million in savings to over 218,000 families, and introduced an Employer Child Care Contribution Tax Credit, enabling businesses to support employees’ childcare costs.
· Increased the Property Tax/Rent Rebate Program, benefiting over 550,000 seniors and people with disabilities with more than $311 million in assistance this year.
· Introduced the Student Loan Interest Deduction, helping graduates by allowing up to $2,500 of student loan interest to be deducted from their taxable income.
Building Stronger Main Streets
Governor Shapiro prioritized revitalizing Main Streets and small businesses across the Commonwealth in his 2024-25 budget, including through significant new investments:
· $20 million in the Main Street Matters Program to support small businesses and commercial corridors. This program builds on and modernizes the Keystone Communities Program, which has already supported neighborhoods and downtown districts across Pennsylvania.
· $500 million to support economic development, including $400 million to create the Pennsylvania Strategic Investments to Enhance Sites (PA SITES) Program to develop competitive, shovel-ready sites for business expansion or relocation in the Commonwealth. The program received bipartisan support to attract more businesses and create good-paying jobs in the state.
«Governor Shapiro’s $20 million investment in the Main Street Matters initiative exemplifies his commitment to the economic growth and revitalization of our Pennsylvania business districts and entrepreneurs who are realizing their vision to build a vibrant future in our great state of Pennsylvania,” said Collins. “The big box industry has made it very convenient to shop at any point, but the backbone of communities across the nation is most certainly the small businesses. Small businesses do matter. The Governor’s initiatives will continue to drive this message home.»
Supporting Small Businesses and Workforce Development
Governor Shapiro’s tax reforms have also created opportunity for Pennsylvania businesses to grow, create jobs, and invest in their employees:
· The 529 Savings Account Employer Matching Contribution Tax Credit incentivizes businesses to match employee contributions to tuition savings, making higher education more affordable for families.
· The increase in the Net Operating Loss Deduction Limit ensures that businesses can reduce taxable income by up to 80 percent by 2029, keeping Pennsylvania competitive with other states.
· The launch of innovative programs like PAyback.pa.gov, the nation’s first online money-back guarantee system, brings accountability and transparency to the licensing process.
· The creation of the PA Fast Track Program through Executive Order 2024-04 makes Pennsylvania the first state in the nation to implement a streamlined, project-based permitting system for major economic development and infrastructure projects.
In Scranton, Stephanie Grudis-Whisner, owner of The Bare Accessories, Senator Marty Flynn, and Representative Kyle Donahue talked about the positive impact of these tax cuts and economic investments in the community.
“I’ve spent most of my life in retail, and my father and I take great pride in serving our community,” said Grudis-Whisner. “In recent years, we’ve seen big corporations thrive while small businesses have faced significant challenges, especially since the pandemic. Both large and small businesses play a vital role in making America what it is, but we must not overlook the small business owners who work tirelessly every day — not just to make a living, but to create meaningful connections and enrich the lives of people in their communities.”
“Our main streets reflect our shared values — hard work, determination, and community spirit,” said Senator Flynn. “The Main Street Matters program is a lifeline that will help small businesses flourish and local economies thrive. I’m committed to working alongside Governor Shapiro to keep my district and Pennsylvania a place where everyone can succeed.”
“It has been an honor to work alongside Governor Shapiro to expand the Child and Dependent Care Enhancement Tax Credit and the Property Tax/Rent Rebate Program that put money back in the pockets of families and seniors,” said Representative Donahue. “I’m looking forward to continuing to work with the Shapiro Administration to ensure all Pennsylvanian’s have the support they need to thrive.»
Governor Shapiro’s investments in small businesses and Main Streets ensure that Pennsylvania’s downtowns and commercial corridors remain thriving hubs of activity, particularly during the holidays. This holiday season, the Governor encourages Pennsylvanians to visit Main Streets and support the small businesses that are the backbone of our communities.
