Gov. Josh Shapiro?visited Reading’s Second Street Learning Center and highlighted new tax cuts supporting small businesses and families.
“I’ve heard firsthand from so many Pennsylvanians who are struggling with high costs right now. From rent to childcare - folks just need a little more help to get by and make ends meet,” Shapiro said in a statement. “That’s why we’ve cut taxes and lowered costs for Pennsylvanians, including two tax cuts that make childcare more affordable across the commonwealth.
“Whether you’re a senior, you’re a family with kids, or you’re a small business owner, I want you to know we’re working hard to cut costs for you and deliver real relief,” added Shapiro.
Along with tax credits for Pennsylvania families, the new?Employer Childcare Contribution Tax Credit?in the 2024-25 budget encourages businesses to contribute to their employees’ childcare expenses. According to a release, employers can claim a tax credit for up to 30 percent of their total contributions to eligible childcare costs, with a cap of $500 per employee helping businesses save money and helping parents with the cost of childcare.
“Every child and parent in Pennsylvania deserve access to high-quality, affordable childcare,” said?Sen. Judy Schwank, D-Berks. “Thanks to Governor Shapiro’s leadership, we passed a budget that invests in early childhood education and created the Employer Childcare Contribution Tax Credit to encourage businesses to support their employees’ childcare needs.”
Rep. Johanny Cepeda-Freytiz, D-Berks, said the bipartisan budget delivers tangible benefits to Berks County.
"By reducing childcare costs, expanding property tax and rent rebates, and investing in our small businesses and workforce, we are creating opportunities for families to thrive and our local economy to grow,” said Freytiz. “This budget is a testament to what can be achieved when we come together across party lines to prioritize the needs of our communities. I look forward to seeing the positive impact it will have on the lives of so many in our district."
The?Second Street Learning Center ? is part of Opportunity House in Reading and ? provides extended hours and childcare services, allowing parents to accommodate their work schedules. The facility is funded by the?Pennsylvania Department of Education and licensed by the?Department of Human Services.?
“This legislation will have a tremendous impact on lessening the burden for families throughout the commonwealth, incentivizing employers through a tax credit program, while increasing the childcare tax credit for families is a win-win for our children and their future,” said Modesto Fiume, president of Opportunity House.
Lucine Sihelnik, president of the Greater Reading Chamber Alliance (GRCA), said investments in education, workforce development, economic development, and infrastructure can have a positive effect on the Berks business community.
“GRCA is dedicated to supporting and promoting small businesses, helping to make them successful,” said Sihelnik. “I'm confident that the net operating loss deduction and the employer tax credits will support our business community.”
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