Washington, D.C.’s wealthiest residents pay a lower share of their earnings in D.C. taxes than its middle-income residents, a recent report published by the D.C. Fiscal Policy Institute found.
The Housing Production Trust Fund, the District’s largest fund for creating affordable housing, is expected to receive $263 million as a result of a budget surplus.
Eliana Golding, a housing policy analyst at the DC Fiscal Policy Institute, said she would be hesitant to draw conclusions about IZ’s effects on the overall market without knowing the specifics.
DC Fiscal Policy Institute (DCFPI) has appointed Erica Williams as its new executive director. She starts in the leadership role on April 6.
In the District, nearly a third of Black children were living in a household where they were not eating enough because they couldn’t afford food, according to an analysis of federal surveys by the DC Fiscal Policy Institute.
According to the DC Fiscal Policy Institute, most Black-owned businesses in the U.S. — and many in wards 7 and 8 — are sole proprietorships, meaning they’re run by one person. That makes it harder to track statistics like foot traffic and revenue.
Tarza Mitchell, the policy director at DCFPI, said the District “has one of the largest Black-to-white wealth and income gaps in the nation and the median racial wealth gap actually grows with higher education levels.”
“And what this package would do is provide essential stabilization dollars for families and businesses right now that make a huge investment in their lives ongoing over the next 10 years,” says Tazra Mitchell of the left-leaning D.C. Fiscal Policy Institute.
According to a report by DC Fiscal Policy Institute, FRPP has preserved 1,400 affordable housing units since 2002—units that will remain affordable for the next 40 years.
Momentum is building among D.C. lawmakers and advocates to make another hefty investment in repairing and redeveloping the D.C. Housing Authority’s most troubled properties.