Mayor Michael Nutter's honeymoon extends to the out-of-town business press. Forbes magazine has an interview in the Jan. 28 issue. In it, he repeats many of the stump statements that helped him get elected. But Forbes' writer David Whelan paraphrases as follows:
He argues that earlier city policies to spur job growth, which amounted to coddling the biggest employers with incentive packages, have failed.
And in case your small business in the city has kept you too busy to read what Nutter has been promising to do to help, there's this:
Nutter intends to start out slowly, first by eliminating the 0.15% tax on business revenue. Then, during his first term, he plans to trim the corporate profits tax from 6.5% to 4.4%. Some day, he hopes, new businesses will pay no taxes for the first two or three years.
(Thanks to Brett Mandel's Philadelphia Forward newsletter for the head's up.)
Comments (1)
Or, how about encouraging businesses and workers to return to the city by reducing/eliminating the antiquated city wage tax? Off hand I don't know of many cities who still assess that tax, in addition to state and muni taxes.
Posted by MAK | January 15, 2008 5:41 PM
Posted on January 15, 2008 17:41