The City of Philadelphia has made a monumental stride with the recent approval of Mayor Cherelle L. Parker's $6.8 billion 'One Philly 2.0' FY26 budget, which underscores a broad spectrum of civic improvements and investments. From economic progression to housing, education, and public health, the budget signifies a comprehensive blueprint for the city's future.
Heralded as a pivotal moment for Philadelphia, Mayor Parker's budget places emphasis on the city's prosperity and fairness for its residents. “Our new $6.8 billion budget makes substantial, bold investments in the programs and services we need most to make Philadelphia the safest, cleanest, and greenest big city in America, with access to economic opportunity for all. We are proud of this budget and excited to deliver on our promises to the people of Philadelphia,” Mayor Parker told local officials. City Council President Kenyatta Johnson echoed these sentiments, emphasizing the commitment to long-term housing solutions for all citizens, as per the City of Philadelphia website.
One of the most ambitious initiatives within the budget is the Housing Opportunities Made Easy (H.O.M.E.) Initiative, boasting a historic $800 million investment aimed at constructing, conserving, and restoring 30,000 homes. The initiative also incorporates the introduction of the One Philly Mortgage Program, striving to make homeownership more attainable for Philadelphians. Zoning reforms and funding to resolve homeownership disputes with the Tangled Title Fund are part of the holistic approach to housing, which Johnson addressed, stating, “This is a balanced budget that reflects the needs of the citizens of Philadelphia. In a city with rich history and resilient people, no one should be forced to sleep on the streets, live in unsafe conditions, or choose between rent and putting food on the table. We must invest in long-term housing solutions—supporting both affordable rental units and pathways to homeownership—to ensure that Philadelphia remains a city where everyone has a place to call home,” as noted by the city's release.
Public safety receives a significant infusion of over $1 billion, as stated, spread over the five-year plan and the city's capital program. This includes the establishment of a new Forensic Science Center and the allocation of $30 million for anti-violence grants. The FY26 budget also supports pedestrian, cyclist, and motorist safety through a $30 million commitment towards the Vision Zero initiative, marking the highest amount allocated in the City Capital Program for this purpose. Funding for body-worn cameras for police and corrections officers is also part of these encompassing public safety efforts.
Turning to the economic sphere, the budget lays out $210 million towards tax reform and business growth, with notable reductions in both the Net Income and Gross Receipts components of the Business Income and Receipts Tax. In what presents as a forward-looking maneuver for small enterprises, nearly $40 million is designated for grants and technical support through the Jumpstart Business program. Through these fiscal measures, Philadelphia aims to foster a more competitive, job-creating, and business-friendly city horizon, according to the same press release.
Clean and green initiatives are met with significant allocations too, as Philadelphia invests $853 million over the course of the budget's lifespan in services like twice-weekly trash collections and the district-based Residential Cleaning program. Investments also extend to infrastructure improvements, with $350 million earmarked for street paving and ADA ramp installations. Parks, public pools, and the ongoing fight against illegal dumping are also beneficiaries of budgeted funds, ensuring the city's continuous strive towards aesthetic upliftment and environmental conscientiousness.
For Philly's future growth, educational investment is not neglected, with the City pledging $147 million to support a range of educational initiatives. This includes bolstering fund allocations for the Philadelphia School District and an expansion of the Extended Day/Extended Year programs, which is anticipated to add thousands of new slots for students. The City College for Municipal Employment also sees a boost with a $10 million investment in FY26 for workforce development, cementing education as a cornerstone for Philadelphia’s economic vitality.
As Philadelphia gears up for the upcoming celebrations in 2026, the budget has factored in a $120 million spend. This comprehensive allocation will support city departments' operations and enhance preparedness for landmark events, ensuring that every Philadelphian can partake in the historic moments on the horizon and that visitors are welcomed in a city primed for the occasion. Meanwhile, $716 million is allotted for SEPTA operating expenses and $76 million for capital investments, funds that are crucial for maintaining and enhancing a pivotal transit network for the city's diverse population and sustainability goals, as mentioned on the city's official website.
