Philadelphia has announced cuts to its business and wage taxes, leaving local law firm leaders optimistic about the long-term impacts on their firms should the city continue to cut taxes and pursue further economic growth, but dismissive of any immediate benefits.
Conversations with local leaders suggested a wide variety of potential impacts under the new fiscal year 2023 budget, including increased office attendance, potential clients moving back into the city, and current clients seeing growth resulting in more work for everyone involved.
