Lawmakers must use this pivotal moment to reform DC’s tax code and advance racial equity. To create a strong and just recovery and better future, these reforms must include higher income taxes on the wealthiest residents.
Nearly 80 organizations organizations sent Mayor Bowser and the DC Council a letter urging them to use the funds on intentional investments and interventions in a timely way, with a laser focus on targeting those most in need and addressing the racial […]
McDuffie contends the District government-sponsored trust funds could solve the District’s growing racial wealth gap. In which white families have 81 times the wealth of black families according to the DC Fiscal Policy institute.
Washington, D.C.’s wealthiest residents pay a lower share of their earnings in D.C. taxes than its middle-income residents, a recent report published by the D.C. Fiscal Policy Institute found.
The richest 1 percent of DC residents pay less in DC taxes as a share of their income than middle-income residents, according to new findings from a leading tax research organization, and the richest 20 percent pay less than the bottom 80 percent of residents […]
Well-off Washingtonians could be hit with a tax hike under a proposal in the works that aims to shore up the District’s pandemic-plagued coffers.
By the D.C. Fiscal Policy Institute executive’s estimates, about 40% of D.C.’s low-income households devoted more than a third of their monthly income to paying rent — the federal standard for determining if someone is “cost burdened” by housing prices.
The pandemic has financially crippled lower-income D.C.-area renters with very little hope of recovery, disproportionately affecting people of color, according to Census surveys.
The District is building up large budget surpluses and reserves while tens of thousands of residents and many small businesses are suffering, according to an annual audit of DC’s finances released last week.
While the change may be more significant for some than others, the ongoing COVID-19 public health emergency has shed new light on the importance of public transportation, as well as walking, biking, scooting, and other people-powered ways of getting around.