There is a projected saving of almost one-half a billion dollars for Pennsylvanians including business for this year alone. Pennsylvania also developed its first set of academic standards for reading writing and mathematics last year and standards in additional content areas are on the way. Clearly, improvement in education will have long term positive effects on the development of our workforce. Pennsylvania has come a long way and has been recognized for its advances. The American Electronics Association ranked Pennsylvania 8 th in high-tech employment.
Business continues to support additional tax decreases.
This change will be an advantage to those Pennsylvania companies that sell significant amounts of product out of state. Another proposal is to increase the limit on the NOL deduction from 1 million dollars to 2 million dollars. Finally, the governor has also proposed that the millage rate of the Capital Stock and Franchise tax be reduced to 10.99 from 11.99. There is a legitimate hope to expand the governor s proposal because of the existence of a larger surplus. There is a competing proposal to use the surplus for property tax reductions.