Councilwoman wants tax credit for big school donations
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Philadelphia City Councilwoman Blondell Reynolds Brown wants corporations who make large donations to Philadelphia public schools to receive a city tax credit. (Tom MacDonald/WHYY)
Could corporate donations help the Philadelphia schools with their financial trouble? A city councilwoman wants to offer a tax break to encourage businesses to help.
Councilwoman Blondell Reynolds Brown says right now companies don’t get a credit on their city taxes if they donate to the Philadelphia public schools. She wants to offer a 20 percent credit.
“So what we are saying to corporate Philadelphia is that, if you donate a million dollars to the schools, you will be able to deduct $200,000 from your tax.”
Reynolds Brown says she has gotten some positive response from major corporations already. “We’re hopeful that it catches on presumably if it becomes law we will be actively engaged in the marketing of it so that the chamber and chamber leaders are aware of it as well.”
The tax credit would only apply to donations of $25,000 or more.
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