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.<\/p>\n
POWER Interfaith<\/a> launched its \u201cWe Make Philly\u201d agenda Tuesday morning outside City Hall, and clergy vowed to lobby for the campaign\u2019s goals in the coming months.<\/p>\n \u201cRight 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,\u201d said the Rev. Cean James, senior pastor at Salt and Light Church. \u201cThey have cut taxes for the rich, taken money away from our city and schools, and made housing, food, and health care far too expensive.\u201d<\/p>\n 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.<\/p>\n 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.<\/p>\n Municipal leaders have repeatedly been prevented from implementing progressive tax structures due to Pennsylvania\u2019s uniformity clause, requiring flat tax rates on individuals within the same category.<\/p>\n \u201cPhiladelphia had this same wealth tax before,\u201d said the Rev. Jay Broadnax, of Mt. Pisgah AME Church. \u201cWe know it works. It’s even been tested in court. It’s constitutional.\u201d<\/p>\n 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\u2019s capital budget.<\/p>\n 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<\/a> allows homeowners to reduce the valuation of their property for real estate tax purposes.<\/a><\/p>\n 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.<\/p>\n Faith leaders said they intended to bring hundreds of their congregants to City Hall to advocate for the \u201cWe Make Philly\u201d agenda and persuade lawmakers to commit to supporting the measures.<\/p>\n Four Council members \u2014 Isaiah Thomas, Jamie Gauthier, Nicolas O\u2019Rourke and Mark Squilla \u2014 showed up to Tuesday\u2019s launch event, and a fifth, Kendra Brooks, has championed a local wealth tax<\/a>.<\/p>\n \u201cThis is one of the most trying times that we\u2019ve seen in my lifetime, as it relates to where we are as a country,\u201d Thomas said. \u201cElections 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.\u201d<\/p>\n