The budget hints at broader economic diversification, including possible engagement with a $5 billion Hanwha Philly Shipyard investment in maritime and defense sectors.

Philadelphia Mayor unveils a $7 billion FY2027 budget plan funded in part by new fees on ride-share trips and retail deliveries to support schools, roads, and infrastructure.

A separate 20-cent rideshare fee aims to raise about $12 million annually for the School District of Philadelphia to expand Pre-K and offer more school programs.

The mayor will present the proposal to City Council and the public, with a March 12, 2026, briefing that will be livestreamed.

The story is breaking news and will be updated as new information becomes available.

Parker noted that despite repairing over 60,000 potholes last year, the city still faces pothole safety and quality-of-life concerns.

Library improvements include $33 million over five years to repair HVAC systems and reduce closures.

Council committees will begin reviewing the budget on March 24, with potential reallocations to housing, safety, and community programs.

A placeholder $10 million is set aside for modular housing manufacturing facilities to improve affordability and create jobs, signaling potential future development.

Some line items, such as funding for the Dell Music Center and statue relocations, are noted but have less clear ties to mobility or broader goals.

Earlier allocations included significant funding for public safety, housing, education, street paving, and environmental initiatives, with a large emphasis on housing investments.

The package comes amid inflation and fading pandemic-era relief, with public hearings through June 30 and a 90-day budget window for alignment of spending with projected revenue.