The COVID-19 Recession is DC’s Rainy Day, but Reserve Rules Limit its Response
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The District’s economy and tax collections are doing somewhat better than projections in September, but very substantial financial challenges remain, especially this year and next, according to the CFO’s December 30th revenue forecast.
The COVID-19 pandemic continues to wreak havoc on the District’s residents and economy, bringing into focus why this once-in-a-lifetime crisis requires innovative and creative solutions.
Anthony Denico Williams, just 20 years old, died on Jan 26th. His friend said he was “someone who would give you the shirt from his back.” Unfortunately, Anthony was not alone.
The District should do more to fund services for struggling residents, including raising taxes on our highest-income residents and big businesses, to support economic stability that benefits the city.
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The pandemic has a particularly tight grip on Black people, as its devastation, in part, thrives on racial and economic inequality. As many as 72,000 workers—mostly Black—are receiving unemployment insurance (UI) benefits or awaiting approval from the DC […]
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