Friday, November 18, 2005
City Council is again moving on measures that would trim Philadelphia's business taxes, especially the Business Privilege Tax. However, Mayor Street vetoed a similar measure last spring for budget reasons -- however, some hidden funds appeared after the budget was finalized, which may fuel his opposition this time around. Some of the proposals would lock in a tax cut, while others would only commit to a short-term decrease (note that the city budgets on a five-year plan). Also at issue is the unknown degree of linkage between tax cuts and actual job creation.