Friday, June 17, 2005

Defeat for business advocates

City Council passed a cut in the Business Privilege Tax two weeks ago, but it was presumed that John Street would veto it. And sure enough, he has.
Thwarting long-term tax-cut advocates for the second year in a row, Mayor Street yesterday vetoed a bill that would have locked in five years of incremental reductions in the city's business-privilege tax and established a schedule to eliminate the tax entirely by 2017.
The usual suspects make the usual outraged responses, but the writing was on the wall some time ago...

(p.s.) Young Philly Politics had a somewhat snarkier take on the activity of the Chamber of Commerce et al. with regard to this bill, and a commenter adds another perspective.

2 Comments:

Blogger Ben Waxman said...

Me? Snarky? Never!

2:18 PM  
Blogger Friedman said...

It's a bummer - it would have cost a bit more than $20 million over the next five years - a time during with the City would have expended over $18 billion on general operations. It's a shame that our "budget expert" mayor couldn't figure out a way to make these largely symbolic tax cuts a reality.

12:41 PM  

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