The Philadelphia City Council has reached an agreement with Mayor Cherelle Parker 's administration for a tentative $6.8 billion budget for 2026, which will include $2 billion going toward a housing program, the mayor announced on Thursday.

Today, I am proud to report that @PHLCouncil reached an agreement with the Parker Administration and voted to give preliminary approval to a $6.8 billion One Philly 2.0 FY2026 Budget for the @PhiladelphiaGov . pic.twitter.com/TkxC6Lhcu0 — Mayor Cherelle L. Parker (@PhillyMayor) June 5, 2025

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The $2 billion H.O.M.E initiative plans to "build, preserve and restore" 30,000 housing units in the city, according to the mayor's office.

The preliminary budget also

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