Mayor Kenney Signs Bill To Lower City's Wage Tax, Giving Very Small Boost To Paychecks
PHILADELPHIA (CBS) -- People who live or work in Philadelphia are about to see a very small boost in their paychecks. Mayor Jim Kenney just signed a bill Tuesday afternoon to lower the city's wage tax.
It is part of the budget passed by City Council last week.
Here is what the change means for you:
- The wage tax for people living in the city will drop from 3.83% to 3.79%.
- For non-residents, the wage tax will decline from 3.48% to 3.44%.
- If you make $50,000, city residents will save $20 a year.
- Non-residents making the same amount of money will keep an extra $4 a year.
