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Nutter: Expect Another Tough Year

By PW Staff

Add Comment | Comments: 0 | Posted Feb. 17, 2010

The Metro reports on grim news from Mayor Nutter. "The city's business community can expect another tough year in 2010, according to Mayor Michael Nutter, who also said the city's employers and employees will have to go another year without decreases to the city's wage tax and business privilege tax. He said in a speech yesterday — the first glimpse of his March 4 budget address to Council — it would be 2012 at the earliest that he would again begin lowering the taxes that many economic experts describe as business killers. "I am committed to once again reinstating those tax cuts as soon as possible, as early as 2012," he told 1,500 businessmen and women gathered for the Greater Philadelphia Chamber of Commerce's annual "mayoral luncheon." "It's still going to be a very tough year in 2010. I hope that people don't lose faith and don't lose confidence because this next budget is going to be just as bad or worse than last year's budget," said chamber Chairman David L. Cohen, who was former Mayor Ed Rendell's right hand man during the last fiscal crisis in the 1990s."