Monday, September 30, 2019
(Washington, DC) – Today, the DC Government released the revised revenue estimates for the FY 2020-2023 District of Columbia Budget and Financial Plan. The forecast for local fund revenues is revised upward in FY 2019 by $79.8 million, based on year-to-date collections data which shows higher than expected individual and corporate income tax revenue, and by $32 million in FY 2020. In response to the new estimates, Mayor Bowser released the following statement:
“We recently went before Congress at our historic statehood hearing and made clear that the state of DC’s economy is strong. These new revenue estimates are one more example of the strength and resiliency of our local economy and our ability to be strong stewards of taxpayer dollars. We already know that DC is a great place to live and do business. We begin the new fiscal year committed to making the investments necessary to give residents a fair shot at pathways to the middle class.”
Content retrieved from: https://mayor.dc.gov/release/statement-september-2019-revenue-estimates.