Last week, PA Chamber President and CEO Luke Bernstein sent a press release with State Treasurer Stacy Garrity and bipartisan state lawmakers to promote new tax credits available to Pennsylvania businesses. The tax credits, which are part of this year’s state budget agreement, encourage employers to contribute to their employees’ PA 529 and PA ABLE accounts.

The PA 529 College and Career Savings Program assists families in saving for education costs, and the PA ABLE program helps individuals with disabilities save for related expenses. Starting in January, employers who make contributions to their employees’ PA 529 and PA ABLE accounts can get a 25 percent tax credit on up to $500 in matching contributions per employee per year.

“This is a win for our workforce, our families, and the future of Pennsylvania’s economy,” said Bernstein. “By working closely with bipartisan leaders, we have new innovative tools that will help workers save for education and disability-related expenses while also giving employers more opportunities to recruit the top talent they need to compete.”

Additionally, PA Chamber Senior Vice President for Government Affairs Alex Halper joined Sen. Camera Bartolotta, Rep. Kristin Marcell, Rep. Paul Friel, and Rep. Greg Scott for a press conference at the State Capitol to encourage employers to take advantage of these tax credits.

To view video and photos from the press conference, please click here.