The Chamber testified this week in support of Philadelphia City Council Bill 120007, legislation that grants exclusions from the business privilege tax and the wage tax to private investment or hedge fund companies, most of which are not located here due to Philadelphia’s onerous tax structure.  We believe passage of this bill would take steps towards addressing the problem of “brain drain” or talent retention as well as fostering high paying jobs in Philadelphia that would contribute significantly to wage tax revenues.

For a full copy of the testimony, please click here.