Good morning. It’s Thursday, May 16th. Philadelphia has the highest local wage tax in the country at roughly 3-point-8 percent for city residents. The city relies on the tax to bring in about 44 percent of its annual revenue. Dating back to 1939, Philly became the first U.S. city to implement a wage tax. It was reduced for the first time in 1995 and is expected to decrease slightly in July.