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

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

Statement
For Immediate Release: Friday, February 26, 2021Contact: Jonathan McNair, 202-288-0714, jmcnair@dccouncil.us Washington, DC – Today, Councilmember Kenyan R. McDuffie, Chair Pro Tempore of the Council andChair of the Council Committee on Business and Economic Development, released the following statementon the DC Chief Financial Officer’s updated revenue estimate: “District CFO Jeffrey DeWitt just provided the Mayor and Council with an updated financial forecast forthe FY 2021 – FY 2024 financial plan. It is clear that this recession continues to devastate workingfamilies 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 thefinancial plan since the December estimates, but still far…
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