Free and discounted tax preparation resources are available to Pennsylvanians looking to save money and avoid headaches this tax season. In addition, some new tax rules are in effect which can potentially help taxpayers save money.
Republicans have said they want to extend the Trump tax cuts, which mostly benefited billionaires and corporations; cut spending on Social Security and Medicare; and repeal the Inflation Reduction Act, which lowered the cost of prescription drugs and raised taxes on corporations.
The bill lowers healthcare costs, incentivizes companies to adopt renewable energies and produce clean energy products; provides consumer rebates for those products, and delivers tens of billions of dollars of direct investments to American communities—funded by taxes on billion-dollar corporations.
Florida Sen. Rick Scott introduced a plan that would raise taxes and could end Social Security and Medicare for more than 2.8 million Pennsylvanians and eliminate Medicaid coverage for 3.5 million residents.
Four Pennsylvania-based companies had a combined total of $1.8 billion in 2020 profits, and avoided $379.3 million in combined taxes while they received $157 million in total rebates.