On behalf of our members and the business community at large, the Chamber of Commerce for Greater Philadelphia, (the Chamber), engages in year-round advocacy efforts with lawmakers in Harrisburg, and Philadelphia to ensure the needs of the business community, and all residents of the Greater Philadelphia region, are represented in the state and local budget process. Together, we hope to realize our policy goals and position Greater Philadelphia as a top global destination for business and a leader in inclusive growth.

City of Philadelphia Budget Includes Investments to Make Philly Safer, Cleaner, Greener

Philadelphia City Council approved the FY 2024-2025 budget on June 13, 2024, which largely aligns with Philadelphia Mayor Cherelle Parker’s “One Philly” proposal supported by the Chamber

Notably, the budget does not include further reductions in City Wage and BIRT taxes. Alongside our members, the Chamber strongly advocated for a reduction in City Wage and BIRT taxes to enable local business growth.

We expect the new Tax Reform Commission to review the city’s tax structure and make recommendations in Fall 2024. The Chamber, in collaboration with the Inclusive Growth Coalition, will continue to advocate for tax reforms that support business and job growth and retention. 

The City of Philadelphia’s FY 2024-2024 budget includes:

  • $10 million to support workforce development and employer partnerships that include commitments to employment, not just a revolving door of training programs. The funding will be used to train Philadelphians for careers in industries that are already thriving and those that are projected to grow, including the building trades, logistics, and life sciences and biotech.
  • Launched New PHL Open for Business: all-of-government effort to reduce the cost and complexity businesses face when navigating City government.
  • $19 million for the City’s free Eviction Diversion Program.
  • $4.8 million for violence prevention grants, totaling $29 million allocated for FY25.
  • $5 million for the Philadelphia Energy Authority’s Built to Last.
  • $8.5 million for tree canopy improvements through the Pennsylvania Horticultural Society.
  • $18 million for upgrades to City recreation centers and libraries.
  • $7 million to expand paid parental leave for city employees.
  • $1 million to restore Mural Arts Philadelphia’s full funding.

The full City of Philadelphia FY 2024-2025 budget can be viewed here.

The Chamber will continue to work alongside our partners in Philadelphia City Council and the Parker Administration to represent our business community and make Philadelphia the safest, cleanest, greenest big city with economic opportunity for all.

State Budget Includes Historic Education Funding, Business Investments, Yet Falls Short on Needed SEPTA Funding

On the state level, the lawmakers recently enacted a FY 2024-2025 budget for Pennsylvania.  The budget establishes several promising initiatives that make our region a more competitive place for inclusive growth, including:

  • $500 million for PA SITES funding along with third-party review permitting reforms which will help reduce delays and incentivize business investment and expansion in Pennsylvania.
  • Increases to the Net Operating Loss Carryforward limit to support startups and neighborhood businesses.
  • Continued phasedown of the corporate net income tax to 4.99% by 2031.
  • Largest investment in K-12 public education in the state’s history, delivering over $1 billion in increases in K-12 public education funding while also allocating funding more equitably.
  • Tax credit for employers who contribute to employees’ childcare costs.

However, more investments are needed. The Chamber was disappointed to see the budget fall short on a critical front: funding for the Southeastern Pennsylvania Transportation Authority (SEPTA). The transit system is projected to receive just $46.2 million in state funding, far below the $240 million needed to address its fiscal challenges. This shortfall jeopardizes the future of SEPTA and, consequently, the broader economic vitality of Greater Philadelphia. The transit system is projected to receive less than $60 million in one-time state funding, far below the $240 million needed to address its fiscal challenges. This shortfall jeopardizes the future of SEPTA and, consequently, the broader economic vitality of Greater Philadelphia.

“SEPTA is more than just a transit system; it’s a lifeline for our workforce and a vital component of our region’s economic and cultural infrastructure. Inadequate funding risks service cuts, fare hikes, and job losses, which could have devastating effects on local businesses and the broader community,” said Anselm Sauter, Vice President, Regional Advocacy.

Read the Chamber’s full statement on the state budget and impact of public transit funding, here.

Support SEPTA, Support Philly

We URGE all members of the Greater Philadelphia business community and their networks to join us in our call for increased transit funding. An adequate and dedicated funding solution is essential not only for maintaining transit services but also for supporting our economic development and quality of life. Your voice is crucial in shaping the future of our region’s transit system and ensuring that our region continues to grow and thrive.

We invite you to reach out to our advocacy team directly

Let’s make our collective voice heard and drive the change our region needs and deserves.