Biz Tax Overhaul On Hold As Nutter Talks With Lawmakers
PHIALDELPHIA (CBS) - City Council's plan to overhaul Philadelphia's much-hated business taxes has been put on hold as the lawmakers continue private talks with the mayor's office.
Council members on Wednesday postponed what would have been a third hearing on the plan to revamp the business tax structure. Instead, they joined Mayor Nutter -- who objected to the plan -- at a news conference to announce that they're going to keep talking.
Councilman Bill Green, who along with his colleague Maria Quinones Sanchez, authored the proposal.
"We will look forward to working with the administration over the next two or three months, weighing the options, coming together with what we agree on, and moving forward to make those changes to benefit Philadelphians and Philadelphia businesses," said Green.
The plan would have phased out the tax on net profits while boosting the tax on a business's gross receipts. Nutter said they hope to reach agreement on a revised idea by the end of February.
Reported by Mike Dunn, KYW Newsradio
