Pittsburgh proposes new tax on investment income to raise revenue

Summarised from 2 outlets · Updated 27 Oct, 17:20 · Archive

Pittsburgh Councilwoman Barb Warwick plans to introduce a proposal for a new 2% city tax on capital gains, dividends and other unearned income.

Pittsburgh Councilwoman Barb Warwick plans to introduce a proposal for a 2% city tax on capital gains, dividends and income from rents, royalties, patents, copyrights, estates and trusts. The proposal is projected to generate more than $50 million a year. Retirement income including pensions would not be subject to the tax. The Keystone Research Center estimated the bottom 80% of Pittsburgh earners would pay an average of $20 a year, with some of the poorest paying nothing.

How it is being reported

• With Pittsburgh facing a dire financial future, one council member wants to enact a new taxPittsburgh Post-Gazette · 27 Oct, 16:54
• New tax on unearned income could generate more than $50M for cash-strapped PittsburghPittsburgh Councilwoman Barb Warwick plans to introduce a proposal Tuesday that would impose a new city tax on capital gains, dividends and other unearned income in a move projected to generate more than $50 million a year.TribLIVE · 26 Oct, 16:09

In this story: Barb Warwick · Pittsburgh · Keystone Research Center · Pennsylvania

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