Last week, the PA Chamber joined the U.S. Chamber and more than 500 business advocacy groups nationwide in signing onto a coalition letter urging the next Congress and Administration to reauthorize the pro-growth tax reforms enacted in 2017 that were instrumental in driving economic growth, investment, job creation, and higher wages across the country.

These tax cuts are set to expire in 2025. Absent congressional action, employers and taxpayers will be bombarded with the largest tax increase in American history, imparting severe and devastating economic consequences. Failing to renew these tax reform provisions will lead to reduced economic growth, increased costs, harm to main street businesses, reduced take-home pay for workers, and significant job loss – consequences that the letter’s signatories called “unacceptable and completely avoidable.”

“We are calling on the next Congress and Administration to commit to pursing a pro-growth agenda and acting to prevent any tax increases on American families or businesses,” they continued. “By maintaining a pro-growth tax code, we can continue to build a robust economy that benefits all Americans and ensures that our nation remains a leader in global competitiveness and economic opportunity.”

Recent polling from the U.S. Chamber shows a majority of voters (80 percent) are concerned that increasing taxes would result in higher prices, and 93 percent believe American families and businesses are already paying enough in taxes.