Mayor Cherelle L. Parker said she’s confident her plan for Philadelphia that she outlined during her annual budget proposal Thursday will usher in a new era of improved safety, quality of life, and business growth.

Philadelphia would cut business tax rates every year and begin spending hundreds of millions of newly allocated dollars on housing and drug treatment programs under a proposed 2026 budget Mayor Cherelle Parker presented Thursday.

Mayor Cherelle Parker’s new $6.7 billion budget proposal features major cuts to some of the city’s marquee taxes while also funding a massive expansion of housing investment citywide. City Council will now debate before a final approval vote in June.