Legislation heads to the governor for consideration
HARRISBURG – Rep. Aaron Bernstine’s (R-Beaver/Butler/Lawrence) legislation to repeal a provision in state law that could be used as a gateway to implement a state wealth tax on personal property passed the Senate unanimously today.
House Bill 1085
would repeal a law originally enacted in 1935, which aims to eliminate outdated laws and upgrade to a more efficient government.
“I want to thank Senators Elder Vogel (R-Beaver/Butler/Lawrence) and Scott Hutchinson (R-Butler, Clarion, Forest, Venango, Warren) for their partnership in getting this legislation passed by the state Senate,” said Bernstine. “This bill will help ensure that taxpayers are protected against additional forms of taxation.”
A wealth tax is a levy on the total value of personal assets, including bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities and personal trust.
Bernstine introduced the bill on April 8. It was unanimously approved by the House in May and then moved to the Senate. It was approved by the Senate Finance Committee on Wednesday, and today by the full Senate.
“This bill was introduced to eliminate the possibility of an asset tax in Pennsylvania,” the lawmaker said. “As a fiscal conservative, I am committed to protecting our taxpayers from more financial harm.”
House Bill 1085 is headed to the governor’s desk for his signature.
Representative Aaron Bernstine
10th Legislative District
Pennsylvania House of Representatives
Media Contact: Rick Leiner
717.260.6437 (office), 717.497.8478 (cell)