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By
Philadelphia City Hall. (Danya Henninger/Billy Penn)
Tax cuts may be on the horizon for Philadelphians as the city moves toward a pandemic-era budget bolstered by a recent influx of new federal aid.
City Councilmember Allan Domb expects to introduce a legislative package on Thursday designed to cut city wage and business taxes, just as Mayor Jim Kenney prepares to float a budget for the coming fiscal year. Meanwhile, a mayoral spokesperson indicated that Kenney is planning his own package of tax reductions as part of that April 15 proposal.
The city raised some taxes and cut services to balance last year’s $4.8 billion budget, but revenues continued to be hammered by the pandemic throughout 2020 with officials initially anticipating a $450 million budget hole this year. But the passage of a $1.9 trillion dollar federal stimulus package with billions for state and local governments put the city on firmer footing.