: News

Filed Under:

Recession Catches Up With D.C.

Play associated audio

By Patrick Madden

The District is facing a $175 million budget gap, that's according to the latest revenue projections for the city.

For a while, it seemed like D.C. really was “recession proof,” while neighboring states faced huge budget shortfalls and debated drastic measures like furloughs, the District seemed relatively well off.

But Chief Financial Officer Natwar Gandhi says after crunching the numbers for next year’s budget, it’s clear the national recession has finally caught up with the District.

He points to the huge drop in projected sales tax revenue.

“More than half of our sales taxes is tourism generated so the big decline is in sales tax of about $52 million,” says Ghandi.

The stock market is also down, and that’s affected how much the city collects in capital gains taxes.

District leaders will have to figure out how to fill the gap over the next two to the three months, and unlike previous budgets, Gandhi says its unlikely the city will be able to tap it’s rainy day fund to help cover the shortfall.

NPR

In Tom Wolfe's 'Kingdom,' Speech Is The One Weird Trick

In Tom Wolfe's first book of nonfiction in 16 years, he argues that the development of speech, not evolution, has made humans what we are today — evolution, he says, applies only to animals.
NPR

After Italy Quakes, Food World Delivers Support To Home Of Famous Pasta Dish

Amatrice was set to host the 50th celebration of pasta all'Amatriciana famously made there, but this week's earthquake devastated the town. NPR's Scott Simon speaks with food blogger Jeremy Cherfas.
NPR

In A Change Of Tone, Trump Reaches Out To Black And Hispanic Voters

In an effort to reach out to minority voters, Trump met with a group of Black and Hispanic leaders on Thursday. Scott Simon speaks with Pastor Mark Burns, who's supported Trump since the primaries.
WAMU 88.5

Want To Play Video Games Made In D.C.? Here's Your Chance.

An event called District Arcade brings together 23 locally made video games.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.