TITLE

Panel to Pittsburgh: Create Review Board, Revamp Taxes

AUTHOR(S)
D'Ambrosio, Gillian
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/16/2003, Vol. 344 Issue 31637, p30
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
An eight-member task force has recommended that Pittsburgh create a financial review board and implement a host of new taxes to generate income and modernize its revenue structure owing to budget deficits. In a report sent to Governor Ed Rendell, the Pittsburgh Economic Improvement Task Force said that expenditure cuts alone were not enough to remedy the city's fiscal deficits, but suggested numerous solutions to broaden its tax base. Among its recommendations were eliminating the business-privilege tax exemption enjoyed by such entities as banks, insurance companies, and manufacturers while lowering the tax rate, a measure that would be revenue-neutral but one that would also stimulate job growth. In addition, the task force backed the payroll preparation tax and a 10% retail liquor tax, both of which have been approved by the City Council.
ACCESSION #
9893114

 

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