Raising taxes this much in D.C. will backfire
Raising taxes this much in D.C. will backfire
https://www.washingtonpost.com/wp-apps/imrs.php?src=https://arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/RBONVCKKAZHR7DBLIGXGBX5SJI.jpg&w=1440
Like many U.S. cities, D.C. faces a cash crunch. Costs have risen for nearly everything, while revenue has been relatively flat. Cities have run through federal pandemic relief dollars, of which D.C. received more than $3 billion. Commercial property
taxes have fallen sharply, in tandem with property values, and are likely to deteriorate further as buildings sit empty. The District’s leaders have tough choices to make in their 2025 budget to close a $700 million hole. The top priorities are clear:
public safety, downtown revitalization and youth. Mayor Muriel E. Bowser’s proposed budget would spend just shy of $21 billion. The D.C. Council’s plan spend about $41 million more than the mayor’s. Their big differences lie in the policy details, and
they matter.
https://www.washingtonpost.com/opinions/2024/06/09/dc-budget-2025-tax-increase/
https://www.washingtonpost.com/wp-apps/imrs.php?src=https://arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/RBONVCKKAZHR7DBLIGXGBX5SJI.jpg&w=1440
Like many U.S. cities, D.C. faces a cash crunch. Costs have risen for nearly everything, while revenue has been relatively flat. Cities have run through federal pandemic relief dollars, of which D.C. received more than $3 billion. Commercial property
taxes have fallen sharply, in tandem with property values, and are likely to deteriorate further as buildings sit empty. The District’s leaders have tough choices to make in their 2025 budget to close a $700 million hole. The top priorities are clear:
public safety, downtown revitalization and youth. Mayor Muriel E. Bowser’s proposed budget would spend just shy of $21 billion. The D.C. Council’s plan spend about $41 million more than the mayor’s. Their big differences lie in the policy details, and
they matter.
https://www.washingtonpost.com/opinions/2024/06/09/dc-budget-2025-tax-increase/