From a Mensch press release:
“If we are going to truly work in a bi-partisan effort to get the state’s economy back on track and start creating jobs, then we need an honest discussion about the economic challenges facing Pennsylvania,” said Senator Mensch. “The state’s unemployment rate is at its highest point since 1984, we continue to see significant job losses, and Pennsylvanians are dropping out of the job market at an alarming rate. These facts need to be discussed openly so that we can begin to build a consensus for the changes in economic and tax policies that are necessary to attract new businesses and jobs to the state.”
According to news reports, while the private sector added 3,400 jobs in July – mostly attributable to casinos hiring new employees due to table games – Pennsylvania actually experienced a net reduction of 7,000 jobs due to the loss of 10,400 government sector jobs, most of which were temporary jobs with the U.S. Census Bureau. The Harrisburg news service Capitolwire also reported that the July unemployment rate of 9.3 percent was the highest it has been since May 1984. It also reported a 43,000-person decline in the number of Pennsylvania residents working or looking for work, which comes on the heels of a 27,000 person drop in the state workforce in the month of June.
“Our current economic policies are not getting the job done,” said Mensch. “If we are going to put people back to work in Pennsylvania, we need to develop a more friendly business environment that allows small businesses to flourish and create new job opportunities for the state’s workforce.”
To achieve this goal, Mensch has introduced a legislative agenda designed to jumpstart the Commonwealth’s economy by making Pennsylvania’s tax policies and economic environment more competitive with other states. These bills would lower the state’s Personal Income Tax (PIT) rate to provide workers with more disposable income, create a job training tax credit for employers, reduce the Corporate New Income (CNI) tax rate which is the second highest in the country, remove the cap on the Net-Operating Loss carry-forward that hurts manufacturers and high-growth start up companies, and address inequities in the single sales factor that penalizes companies that move their base of operations into Pennsylvania.
Mensch is running on a platform of returning fiscal responsibility to Harrisburg, opposing tax increases on working families and seniors, improving the state’s economic environment and job creation, and enhancing local open space preservation efforts.
For more information on Mensch and his campaign for the Pennsylvania Senate in the 24th District, visit his campaign website at www.mensch2010.com