PHILADELPHIA (CBS) – A plan to overhaul Philadelphia’s much-criticized business tax structure is getting a thumbs-down from the City Controller, who says it’s being pushed in haste.
At issue is a plan proposed by council members Maria Quinones Sanchez and Bill Green that would reduce the tax on net income while boosting the tax on gross receipts.
City controller Alan Butkovitz says he doesn’t like the idea and with a hearing on this set for next week, he says the proposal is moving far too quickly:
“If you passed a rule tomorrow that everybody in Philadelphia had to drive on the left hand side of the road, there would be chaos. Nobody does major policy changes like this.”
Green and Sanchez say their plan would be revenue neutral, helping companies based in the city while forcing outside firms to pay more. The Nutter Administration says it would actually cut business tax revenues by more than $20-million a year.
Reported by Mike Dunn, KYW Newsradio