PHILADELPHIA – Mayor Jim Kenney issued a statement today following City Council’s final passage of the FY23 budget bills and related amendments:
“I want to thank all members of City Council, under the leadership of Council President Darrell L. Clarke, for their partnership on finalizing the Fiscal Year 2023 Operating and Capital Budgets. I’m proud of the collaboration between our administration and members of City Council over the past few months, which has brought us a budget that makes meaningful investments to ensure the long-term safety, health and well-being of Philadelphia and our residents.
“First and foremost, to address the immediate crisis and complement other investments that tackle the systemic, root causes of violence, this budget dedicates more than $200 million this year to reduce violence through an array of strategies focused on community empowerment, employment and careers, healing, prevention, and safe havens for children and youth.
“This budget will provide substantial relief to homeowners that have been affected by the long-term boom in the real estate market, as we’ll increase the Homestead Exemption from $45,000 to $80,000 and increase dollars available for the Longtime Owner Occupants Program (LOOP). I’m also proud that this budget also provides more assistance for renters, with an additional $30 million dedicated to the PHLRentAssist program over two years.
“I’m also pleased that the budget deal continues to reduce wage taxes to the lowest level in more than 50 years—3.79 percent for residents and 3.44 percent for non-residents—and it will reduce the Business Income and Receipts Tax (BIRT) from 6.2 percent to 5.99 percent to further support our small businesses. Taken as a whole, these moves will protect our seniors and longtime homeowners while benefiting workers, employers, and the city as a whole for generations to come. While these changes represent significant progress, I look forward to continuing to work with City Council to further reduce the tax burden for workers and small businesses, and make our tax system fairer and more sustainable.
“This budget will also help enhance quality of life in our neighborhoods, with additional funding to install or repair street lighting, combat illegal dumping and removal of abandoned cars, and funding to support demolitions. In addition, it will help expand hours at recreation centers on weekends.
“I am proud of the collaboration that has gotten us to this point, as this budget focuses on providing—and in some cases expanding—core services while maintaining our long-term fiscal health, reducing racial disparities among Philadelphians, and advancing equitable outcomes for all Philadelphians. I’m grateful for our partnership with City Council and thank councilmembers for its final passage.”