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NFIB Praises State Senate for Voting to Rein in Burgeoning State Pension Debt
Uncertainty has chilling effect on small business growth in the Commonwealth
HARRISBURG (May, 13, 2015) — The National Federation of Independent Business (NFIB), Pennsylvania’s largest small-business group with 15,000 members, praised the state Senate for passing Senate Bill 1, which would reform the current state pension system.
"Pennsylvania’s public pension deficit is the single-greatest financial threat facing the commonwealth, school districts and ultimately taxpayers, including small-business owners," said NFIB State Legislative Director, Neal Lesher.
"We need more jobs and a robust state economy, yet small-business owners are hesitant to borrow to expand and hire when they don’t know if the growing state pension crisis will result in higher taxes," said Lesher, "Those job creators say why take the risk when there’s such uncertainty."
Meaningful pension reform must significantly reduce the risk taxpayers have been exposed to and produce savings. SB 1 accomplishes those goals and represents a comprehensive strategy that takes into account the information learned through an exhaustive process.
"The Senate must be praised for taking action on such a tough issue and we hope to see similar action soon in the House."
NFIB thanks Senate Majority Leader, Jake Corman, Senate President, Joe Scarnati, and Senators Pat Browne and John Eichelberger for their leadership in moving this bill to passage in the Senate.
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NFIB is the nation’s leading small business association, with offices in Washington, D.C. and all 50 state capitals. Founded in 1943 as a nonprofit, nonpartisan organization, NFIB gives small and independent business owners a voice in shaping the public policy issues that affect their business. NFIB’s powerful network of grassroots activists sends their views directly to state and federal lawmakers through our unique member-only ballot, thus playing a critical role in supporting America’s free enterprise system. NFIB’s mission is to promote and protect the right of our members to own, operate and grow their businesses. More information is available online at www.NFIB.com/newsroom.