The Greater Philadelphia Chamber of Commerce offered testimony today before the Committee of the Whole on City Council Bill 100635, legislation that would restructure the Business Privilege Tax (BPT). As where we applaud the two main sponsors of this bill for recognizing the onerous tax burden on businesses in the City of Philadelphia, the Chamber opposes this bill moving forward in its present form at this particular time.
We believe that there is considerable disagreement on some elemental fiscal “facts” surrounding this matter as it relates to revenue-neutrality and employment numbers. We explain in our position that the proposed “tax shift” not only creates inherent “winners and losers” across various economic sectors, but also disadvantages within an economic sector as well.
To read a copy of today’s testimony, please click here.
