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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Councilmember McDuffie’s Statement on the Resignation of DC CFO Jeff DeWitt

Councilmember McDuffie’s Statement on the Resignation of DC CFO Jeff DeWitt

Statement
For Immediate Release: Wednesday, February 17th, 2021Contact: Jonathan McNair, 202-288-0714, Jmcnair@dccouncil.us Washington, D.C. -- 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 resignation of DC’s Chief Financial Officer Jeff DeWitt: “I want to thank Jeff DeWitt for his years of service to our city and congratulate him on his new position.Despite the devastating economic impacts of this pandemic-induced recession, the District’s underlyingfinancials remain sound, including 24 consecutive clean audits and two consecutive years of our governmentmaintaining 60 days of operating reserves. Those strong fundamentals are due in no small part to Mr.DeWitt’s stewardship. Now more than ever, Washington, D.C. needs a strong and experienced CFO, one that understands theunique nature of the…
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McDuffie Statement on DC’s Updated Fiscal Forecast and Revenue Shortfall

McDuffie Statement on DC’s Updated Fiscal Forecast and Revenue Shortfall

Press Release
McDuffie Statement on DC's Updated Fiscal Forecast and Revenue Shortfall Washington, D.C. -- 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 of Columbia Chief Financial Officer Jeffrey DeWitt just provided the Mayor and Council with an updated financial forecast and now projects a budget shortfall of $722 million in the current fiscal year, and additional downward revisions of $774 million, $606 million, and $568 million over the next three years. Based on all the numbers, the CFO today indicated that we are now in a recession. While that is certainly not welcome news, we all know that this pandemic has had a…
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