Councilmember McDuffie’s Statement on the February 2021 Revised Revenue Estimates

For Immediate Release: Friday, February 26, 2021
Contact: Jonathan McNair, 202-288-0714, jmcnair@dccouncil.us

Washington, DC – Today, Councilmember Kenyan R. McDuffie, Chair Pro Tempore of the Council and
Chair of the Council Committee on Business and Economic Development, released the following statement
on the DC Chief Financial Officer’s updated revenue estimate:

“District CFO Jeffrey DeWitt just provided the Mayor and Council with an updated financial forecast for
the FY 2021 – FY 2024 financial plan. It is clear that this recession continues to devastate working
families across the District, particularly low-wage workers in the hospitality and service industries.
Furthermore, I am concerned to see projected declines in revenue from commercial property taxes.

Despite these challenges, the revised estimates hold some good news; an increase of $227 million over the
financial plan since the December estimates, but still far below pre-pandemic levels. The new estimates
also make it clear that the anticipated federal stimulus funding in the American Rescue Plan is
desperately needed and will significantly affect our ability to provide essential services to support residents
and small businesses. Moving forward, I will continue to advocate for the type of equitable recovery that
residents demand and deserve.”

A full copy of the CFO’s revised estimate report can be found here.