A coalition of churches, synagogues and other religious congregations is pushing for a Philadelphia wealth tax and a pair of initiatives aimed at helping to relieve the affordability crisis for low- and middle-income families.
POWER Interfaith launched its “We Make Philly” agenda Tuesday morning outside City Hall, and clergy vowed to lobby for the campaign’s goals in the coming months.
“Right now, Philadelphia is not working for everyday people, and the decisions being made in Washington, Harrisburg and on Wall Street are making it difficult for families to live here,” said the Rev. Cean James, senior pastor at Salt and Light Church. “They have cut taxes for the rich, taken money away from our city and schools, and made housing, food, and health care far too expensive.”
James and other members of the organization are calling for a 0.4% tax on stocks, bonds and mutual funds. The levy would not apply to pensions, retirement plans or college savings accounts.
The tax would generate an estimated $250 million in revenue a year, which could be used to bolster schools or offset changes to Medicaid at the federal level, according to POWER.
Municipal leaders have repeatedly been prevented from implementing progressive tax structures due to Pennsylvania’s uniformity clause, requiring flat tax rates on individuals within the same category.
“Philadelphia had this same wealth tax before,” said the Rev. Jay Broadnax, of Mt. Pisgah AME Church. “We know it works. It's even been tested in court. It's constitutional.”
POWER also wants City Council to force Philadelphia Gas Works to agree to a five-year rate freeze by withholding approval of the city-owned utility’s capital budget.
In addition, the group is urging lawmakers to increase the value of the Homestead Exemption to the maximum amount allowed under current statute. The popular program allows homeowners to reduce the valuation of their property for real estate tax purposes.
Two years ago, Council and Mayor Cherelle Parker raised the benefit to $100,000. POWER calculates that the exemption could be lifted to just under $123,000. Organizers said legislators could pass a bill that automatically sets Homestead at the maximum value each year.
Faith leaders said they intended to bring hundreds of their congregants to City Hall to advocate for the “We Make Philly” agenda and persuade lawmakers to commit to supporting the measures.
Four Council members — Isaiah Thomas, Jamie Gauthier, Nicolas O’Rourke and Mark Squilla — showed up to Tuesday’s launch event, and a fifth, Kendra Brooks, has championed a local wealth tax.
“This is one of the most trying times that we’ve seen in my lifetime, as it relates to where we are as a country,” Thomas said. “Elections matter. And if you look at the consequences we're facing from past elections, I don't want to hear anyone telling me their vote doesn't matter.”
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