Budget D.C. Leaders Prepare for Tax Increase as Budget Gap Nears $800 Million – What You Need to Know Now!
WASHINGTON, D.C. leaders are gearing up for a challenging budget season ahead, anticipating a deficit of $600 million to $800 million for the fiscal year 2025. The impact of the ongoing pandemic on office vacancies and tax revenue has put pressure on city officials to consider a potential tax increase to address the financial shortfall. D.C. Council Chairman Phil Mendelson highlighted various financial strains on the city, including the expiration of federal pandemic aid, which …