Summary
The Revenue Stress in the City of Philadelphia report details the financial constraints affecting the City’s revenue base, highlighting the impact of economic fluctuations, population decline, and an overreliance on wage and business taxes. The report finds that Philadelphia’s revenue structure is increasingly vulnerable to economic downturns, as its tax base is not sufficiently diversified. It warns that high tax burdens may accelerate outmigration, further reducing revenues and increasing fiscal strain. The report recommends policies aimed at broadening the revenue base, reducing tax volatility, and aligning expenditures with sustainable revenue sources to ensure long-term fiscal stability.