Title
Authorizing the Committee on Global Opportunities and the Creative/Innovative Economy to create a Cost of Living Task Force and to hold hearings on the cost of living in Philadelphia in order to study conditions and advance recommendations that ensure Philadelphia is a city where all residents can afford to live and thrive.
Body
WHEREAS, Philadelphia has long prided itself on being a city of working people, a place where families can live, grow, and contribute to their communities; and
WHEREAS, Over the past 20 years, the cost of basic necessities-including housing, transportation, childcare, senior care, healthcare, groceries, utilities, and taxes-has steadily outpaced wages, placing immense pressure on Philadelphia households, particularly those with low or fixed incomes; and
WHEREAS, Adjusted for inflation, Philadelphia wages have stayed constant or even decreased over the past 20 years; and
WHEREAS, Over the same period, the median rent in Philadelphia has increased by more than 60%, while home prices have doubled in many neighborhoods, pushing longtime residents out of their communities; and
WHEREAS, Simultaneously, the cost of groceries has risen by over 40%, utility rates have surged due to global energy instability, and car insurance rates remain among the highest in the nation; and
WHEREAS, Due to reassessments, property taxes and other municipal fees have continued to climb, and the elimination of the $100,000 exemption from the Business Income and Receipts Tax (BIRT) threatens to increase financial strain on small businesses and, by extension, the communities they serve; and
WHEREAS, The Trump Administration's federal budget proposed in summer 2025 includes deep cuts to housing assistance, food security programs, transit funding, and health subsidies, which will severely compound the affordability crisis and leave cities like Philadelphia bearing the brunt of unmet needs; and
WHEREAS, Philadelphia is the poorest large city in the count...
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