WHEREAS, The COVID-19 emergency has created a nationwide public health crisis and an economic crisis that is unparalleled in modern history. The City of Philadelphia has been hit hard and is facing increasing economic inequality and record unemployment, business closures, and budgetary shortfalls; and
WHEREAS, Beyond the immediate need to account for revenue shortfalls with reduced expenditures in the fiscal year 2021 budget, the City must ensure that it has the right systems, incentives, and services in place for a fast recovery and a stronger economy in the long-term. This is an opportunity to make comprehensive changes to the way the City raises revenue and provides services for Philadelphians; and
WHEREAS, The purpose of this committee is to examine the many factors affecting the City’s economic future. The Special Committee shall create legislation that promotes comprehensive tax reform, quality job growth, and economic competitiveness for all Philadelphians participating in a global economy; and
WHEREAS, The Special Committee shall be comprised of Councilmembers, community stakeholders, and leaders representing Philadelphia’s diverse businesses; and
WHEREAS, The Special Committee will engage representatives at all levels of local, state and federal government to create actionable policy for Philadelphia’s economy to recover from the COVID-19 crisis while becoming more equitable and resilient, now, therefore, be it
RESOLVED, That The the City Council of Philadelphia, Hereby authorizes the creation of a Special Committee on the Future Economy of Philadelphia to develop policy and hold hearings to promote economic competitiveness, expansion, and opportunities for the City and all Philadelphians
FURTHER RESOLVED, That Council hereby authorizes the Special Committee on the Future Economy of Philadelphia to meet regularly to develop policy and hold hearings with the authorization to issue subpoenas to compel attendance of witnesses and the production of documents to the full extent authorized under Section 2-401 of the Philadelphia Home Rule Charter.
End