All Eyes On Yass Applauds PA House Finance Committee Advancing Bill to Capture Billions in Lost Revenue and Enhance Accuracy of Tax System

“By accurately reflecting corporate activity in our state, we are taking a responsible step toward ensuring Pennsylvania’s financial stability and protecting the services communities depend on.”

HARRISBURG – Today, the House Finance committee voted HB 1610 out of committee, a key step toward closing corporate tax loopholes and reclaiming billions of dollars in lost tax revenue. The bill creates a more accurate state tax system by requiring corporations to report all income from affiliated businesses throughout the country. HB 1610 would capture $300 million in the 2025-26 fiscal year and more than $1.1 billion annually in subsequent years. The bill now heads to the full House for a vote.

The bill advances a crucial piece of All Eyes on Yass’s Pathway to Prosperity revenue plan, a roadmap to raise $14B in annual revenue for Pennsylvania, combat looming federal cuts, and protect essentials like transit and Medicaid.

Many corporations that do business and make profits in Pennsylvania avoid paying state taxes by registering one or more companies in other states. By capturing a more accurate picture of a corporation’s total economic activity, this bill closes loopholes and strengthens the integrity of the state tax system. Twenty-eight states and Washington DC have already enacted similar bills.

Ray Murphy, co-leader of the All Eyes On Yass campaign, said:

“At a time when SEPTA could be forced to cut service in half and 300,000 Pennsylvanians could be kicked off Medicaid, auditing the budget for leaks is smart bookkeeping. Repairing those leaks is fiscal responsibility, and that’s what HB 1610 does. This bill will capture billions of dollars in lost revenue, money that should be rightfully supporting vital services. By accurately reflecting corporate activity in our state, we are taking a responsible step toward ensuring Pennsylvania’s financial stability and protecting the services communities depend on.”

Rep. Elizabeth Fiedler, lead sponsor of the bill, said:
"Just like every hardworking Pennsylvanian has to pay their taxes, it’s time for major corporations to stop hiding profits and pay their fair share. I'm hopeful we can pass HB 1610 and generate the revenue we need to fund schools, housing, parks, libraries, and childcare in our neighborhoods."

Raquel Jackson-Stone, Harrisburg Coordinator of One Pennsylvania and member of the All Eyes On Yass campaign, said:

“Pennsylvania has long had one of the most unfair tax systems in the country, allowing large corporations to pull the wool over the eyes of state residents and lawmakers, making profits here and hiding them elsewhere to avoid paying their PA tax bill. HB 1610 finally closes outdated loopholes that have bled money out of our state while residents pick up the tab.”

Rachie Weisberg, Legislative Affairs Strategist for Working Families Power and member of the All Eyes On Yass coalition, said:

“The principle of taxation is simple: we all contribute based on what we have to support the common good. But when corporations hide their profits to pay less, they’re unfairly shifting that burden onto working families with less to give and more to lose. Closing these loopholes will restore some fairness and put a $300 million down payment into next year’s budget. It’s crucial that the House pass this bill now.”

HB 1610 is sponsored by Rep. Elizabeth Fiedler and co-sponsored by Rep. Mary Jo Daley, Rep. Steve Samuelson, Rep. Rick Krajewski, Rep. Greg Scott, Rep. David Delloso, Rep. Napoleon J. Nelson, Rep. Benjamin Sanchez, Rep. Tarah Probst, Rep. Liz Hanbridge, Rep. Chris Pielli, Rep. Tarrik Khan, Rep. Ed Neilson, Rep. Joe Ciresi, Rep. Joseph Hohenstein, Rep. Melissa Shusterman, Rep. Robert Freeman, Rep. Kyle Donahue, Rep. Danielle Friel Otten, Rep. Roni Green, Rep. Carol Hill-Evans, Rep. Melissa Cerrato, and Rep. Jose Giral.

Read All Eyes on Yass’s Pathway to Prosperity revenue plan here.