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Committee of the Whole reviews FY2027 budget, new taxes and pension progress
Summary
City finance officials presented the proposed FY2027 operating and capital budgets and a revised five-year plan, outlining new taxes (hotel, rideshare, retail delivery) to fund services and reporting pension funding progress toward full funding by 2033.
The Committee of the Whole held a public hearing on the City of Philadelphia’s proposed fiscal 2027 operating and capital budgets and related ordinances, including measures to establish a hotel room excise tax, a retail delivery tax and a proposed tax on prearranged rides originating in the city.
Finance Director Rob DeBeau testified in support of the administration’s budget and said recent reforms have pushed the city’s pension fund from below 50% funded about a decade ago to “more than 67% funded,” and that “our actuary…
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