DC’s estate tax, our most progressive revenue source, has been substantially eroded over the past several years, as DC has repeatedly increased the size of estates that are allowed to be passed to heirs completely tax free. But DC policymakers didn’t anticipate that...
Kitty Richards
Recent posts by Kitty Richards
DC Should Not Allow the Federal Tax Bill to Erode Our Most Progressive Revenue Source
DC’s estate tax, our most progressive revenue source, has been substantially eroded over the past several years, as DC has repeatedly increased the size of estates that are allowed to be passed to heirs completely tax free. But DC policymakers didn’t anticipate that...
Testimony of Kitty Richards At the FY 2018 Performance Oversight Hearing for the Office of the State Superintendent of Education
Chairperson Grosso and members of the Committee, good morning and thank you for the opportunity to testify today. My name is Kitty Richards and I am the Acting Executive Director at the DC Fiscal Policy Institute. DCFPI is a member of the Birth-to-Three Policy...
How DC Used Its Surplus
The annual audit of the District’s finances is out, and it shows a $287 million increase in the city’s fund balance in 2017. This balance represents DC’s accumulated monetary assets, including various reserve funds – a mix of federally-required and locally-controlled...
As High-Income DC Taxpayers Reap Large Federal Tax Windfalls, DC Can Make Our Tax Code More Progressive
According to recent estimates from the Institute for Taxation and Economic Policy (ITEP), District of Columbia residents can expect to receive an $850 million federal tax break this year. Nearly 60 percent of this benefit, or almost $500 million, will flow to the top...