{"id":112893,"date":"2022-07-08T21:42:40","date_gmt":"2022-07-09T01:42:40","guid":{"rendered":"https:\/\/www.thevalleyledger.com\/?p=112893"},"modified":"2022-07-08T21:42:40","modified_gmt":"2022-07-09T01:42:40","slug":"mackenzie-state-budget-benefits-families-and-small-businesses-protects-taxpayers","status":"publish","type":"post","link":"https:\/\/www.thevalleyledger.com\/?p=112893","title":{"rendered":"Mackenzie: State Budget Benefits Families and Small Businesses, Protects Taxpayers"},"content":{"rendered":"

HARRISBURG<\/strong>\u00a0\u2013 Rep. Ryan Mackenzie (R-Berks\/Lehigh) joined a bipartisan majority of his House colleagues in passing the 2022-23 state budget bill this week. The $42.8 billion spending plan increases education funding to an all-time high while making a sizable deposit into Pennsylvania\u2019s Rainy Day Fund without raising taxes.<\/p>\n

\u201cNot only are there no new taxes \u2013 there are tax cuts for small businesses and families,\u201d said Mackenzie. \u201cThis proposal adds $2.1 billion to the Rainy Day Fund, bringing the total to an historic $5 billion, and also pays back over $2 billion worth of prior budget borrowing. Both are sound investments that will put the Commonwealth on firmer financial ground and help offset the impact of future economic downturns.\u201d<\/p>\n

The budget bill provides relief for small business owners in the form of expense deductions that encourage equipment purchases and expansion. They can also defer tax liabilities on gains from similar property exchanges, as allowed in every other state.<\/p>\n

Families will benefit as well, according to Mackenzie. The proposal creates a first-ever childcare credit equal to 30% of the federal credit.<\/p>\n

Mackenzie also noted that Pennsylvania\u2019s public, charter, and private schools will share a largest-ever allocation of $15 billion for PreK-12 education.<\/p>\n

\u201cThis includes a $525 million increase in basic education funding ($7 billion), $100 million more for special education ($1.3 billion), $100 million for school safety and security, and a $60 million increase in Pre-K Counts,\u201d he said.<\/p>\n

School districts within the 134th<\/sup>\u00a0Legislative District will receive the following amounts of basic education funding:<\/p>\n