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Mayoral Candidates Take Aim at BPT Tax

PHILADELPHIA-While candidates agree that the city's onerous 6.5% business privilege tax deters companies from locating here, they disagree on what to do about it.

By Marita Thomas | Updated on March 12, 2007

PHILADELPHIA-Taxes, more than real estate development, were the primary focus of four of the city’s mayoral candidates during a luncheon panel discussion, held at the Union League. While US Congressman Chaka Fattah said he would eliminate the onerous 6.5% business privilege tax and put a 3.2% charge on net profits, former City Councilman Michael Nutter said he would eliminate the gross receipt portion of the BPT over five years and also reduce the city’s net profit tax on businesses.

These two candidates along with local businessman, Tom Knox, are among a crowd of six Democratic candidates, which also includes State Rep. Bob Brady and Dwight Evans. Brady made an early showing to say he could not stay for the forum, and Evans declined to participate citing a scheduling conflict. Businessman Al Taubenberger, the lone Republican candidate, also participated.

Knox referred back to his role in balancing the budget under former Mayor Ed Rendell, and said that was key to reducing taxes. Taubenberger noted a newspaper article that ranked Philadelphia’s tax burden first in the nation, and said he proposed elimination of the BPT by 2014. “Casino revenue represents another opportunity to lower the wage taxes,” he added.

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