Inclusive Growth Coalition
Nov 22, 2023
An Inspiration for Inclusive Economic Growth and Empowerment
In 2003, the Philadelphia Tax Reform Commission began an important journey to reduce taxes and reshape the City's overall tax landscape to benefit all Philadelphia residents, workers, and businesses. The Commission’s insight and work are at the heart of the Inclusive Growth Coalition's (IGC) advocacy and vision for a vibrant, equitable economy where businesses and communities flourish together.
The Commission's Recommendations: Forging a Path to Shared Prosperity
The Commission outlined 28 recommendations highlighting the power and potential of inclusive thinking and equitable decision-making:
Business Tax Reform: The proposed elimination of the Business Privilege Tax was a bold move towards an equitable business environment. The IGC views this as a critical step to empower local entrepreneurs and stimulate a diverse economic fabric.
Wage Tax Reduction: The Commission's vision to lower the Wage Tax mirrors the IGC's commitment to making Philadelphia a magnet for talent and a more affordable place for its residents to live and work.
The IGC champions these key recommendations because they align with our vision for a city that supports growth for all.
Progress Through the Lens of the IGC
Philadelphia has made progress toward a more equitable tax system since the Commission’s initial report. The IGC has been at the forefront, pushing for a tax structure that bolsters Philadelphia’s appeal to businesses and hardworking families alike. The recent lowering of the Business Income & Receipts Tax (BIRT) from 5.99% to 5.81% and the Wage Tax decrease for residents from 3.79% to 3.75% are incremental yet important steps towards a more inclusive economy, but the journey does not end here.
The IGC also celebrates the Wage Tax reduction for residents but remains vigilant in ensuring tax rates are equally welcoming for non-residents, who are integral to the city's economic and business landscape.
Economic Impact and IGC's Advocacy for a Diverse Economy
The IGC is acutely aware of the stifling effect that prohibitive business taxes can have on economic diversity and job availability. The Tax Reform Commission's job creation estimates represent the potential for real community transformation. The IGC's advocacy work is rooted in the belief that a thriving economy is one where opportunity is abundant and accessible to all.
The IGC's Proactive Blueprint for Tax Reform
The IGC's approach to tax reform is one of proactive collaboration. We are committed to a reform agenda that aligns with our diverse coalition's ethos: to create a tax system that is as dynamic and varied as the communities and businesses we represent.
Our coalition — which includes voices from the African-American, Hispanic, Asian American, and LGBTQIA+ business communities — is united in the goal of transforming Philadelphia into a hub of opportunity for all communities and industries.
Conclusion: IGC's Vision for a Prosperous and Inclusive Philadelphia
With the core values of the Philadelphia Tax Reform Commission in mind, the IGC envisions a Philadelphia where thoughtful tax reform is the cornerstone of a thriving, inclusive economy. Our coalition is steadfast in advocating for a tax structure that is both competitive and equitable, ensuring that Philadelphia is not just a place to do business but a place where business is done right — for the good of all its people. Together, we are paving the way for a Philadelphia that is rich in opportunity, diversity, and economic vitality.