· mayor cherelle parker laid out a $6. 7 billion budget blueprint thursday that would hike spending and overhaul city taxes. · philadelphia mayor cherelle parker offered her second budget address before the philadelphia city council thursday, march 13. The two major items discussed by the mayor are significant tax cuts and the borrowing of $800 million to address the city’s housing crisis. Parker is keeping her foot on the gas, seeking to boost spending by nearly 6% over last year to check items off her ambitious agenda. · despite recent cuts, philly ’ s wage tax remains the highest flat-rate municipal tax on income in the country. Mayor cherelle parker’s new $6. 7 billion budget proposal features major cuts to some of the city’s marquee taxes while also funding a massive expansion of housing investment citywide. · philadelphia would cut business tax rates every year and begin spending hundreds of millions of newly allocated dollars on housing and drug treatment programs under a proposed 2026 budget mayor. Although almost no one seems to like the city’s tax structure, political constraints have stood in the way of efforts to make major changes to the two largest levies. · philadelphia mayor cherelle parker emphasized cutting taxes while funding housing, new municipal contracts and other priorities in city council chambers thursday as she presented her fiscal. · mayor cherelle parkers 2026 budget proposal would cut the citys wage tax and its business income and receipts tax while increasing the real estate transfer tax.

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