The District’s Dime is running a special series highlighting the developments on the Tax Commission and Soccer Stadium and the effects on DC residents. Click here to view all the related materials.
Readers of The District’s Dime have spent the past few months learning about DC’s Tax Revision Commission and DCFPI’s take on the research and policy options under consideration. Now it’s time for the Commission to hear from you! Next Tuesday, November 12, from 5:00 p.m. — 9:00 p.m., the DC Tax Revision Commission will hold its final public hearing on proposed changes to DC’s tax structure. More specifically, the Commission is looking for input on the approximately 60 policy changes they have put out for discussion.
After the public hearing and some final Commission meetings, the Tax Revision Commission will issue its recommendations to the mayor and Council on how DC should alter its tax system.
DCFPI believes that the Commission’s number one priority should be to address DC’s off-balance tax system. That imbalance shows up in the fact that a DC resident earning $40,000 a year pays a lot more of their income towards taxes — 11 percent — than the wealthiest one percent of DC residents, who pay about 6 percent of income in DC taxes. (See Figure 1.)
Some of the Commission’s proposed policy changes ‘ such as increasing the standard deduction and personal exemption — would help to rebalance DC’s tax system so that low- and moderate-income residents are not paying the highest shares of income towards taxes. As we’ve written before, raising the personal exemption and standard deduction, reforming DC’s tax brackets and rates, and expanding the Earned Income Tax Credit for low-income workers without children would be targeted ways to put DC’s tax system back in balance.
It’s time to make your voice heard on this important issue. Check out the Commission’s resources, including the research that has been provided on taxes in DC, check out our take on the District’s Dime Tax Commission Tuesday special and let the Commission know what you think about their proposed changes to the tax system in DC.
To learn more about how to testify, click here.
To print a copy of today’s blog, click here.
