The DC Fiscal Policy Institute shapes racially-just tax, budget, and policy decisions to advance an antiracist, equitable future.
Joined December 2010
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Last night, President Trump threatened to revert DC to governance on a “federal basis.” The statement is the latest in this administration's pattern of interference in DC's autonomy & a direct threat to the democratic rights of DC residents.
Read more: dcfpi.org/press-releases/tru…
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DCFPI retweeted
Jun 11
DC City Council is considering a version of our Wealth Proceeds Tax — a tax on passive investment income, such as capital gains, from wealthy households.
The Washington Post editorial page on Monday mischaracterized this proposal and its implications, so let’s clear things up.
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DCFPI retweeted
Jun 10
“We have educators that are saying ‘I’m able to make my ends meet. I’m able to take care of a bill that I have been ignoring. My credit score has gone up because I can take care of my debt.’” LaDon Love told The Informer about the importance of Pay Equity investments. @SamPKCollins
D.C. Council approves budget act, reversing proposed cuts by Mayor Bowser. Funding prioritized for education, healthcare and housing. washingtoninformer.com/dc-bu…
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DCFPI retweeted
Further, the budget in front of Council falls a minimum of $160m short of advocates' asks on vital programs that support DC's economy, children, and families. Take a look here: docs.google.com/spreadsheets…
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DCFPI retweeted
But we continue to let wealthy interests, including the WaPo editorial board, tank smart proposals that ask the households with the biggest gains in our economy to pay a little more. 10/10
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And three-quarters of voters in DC approve of taxing the wealth of the top 5%, according to new polling. 9/
Apr 14
To eliminate the Pay Equity Fund and further squeeze an already tightened knot on the DC’s Child Care Subsidy Program is cruel to District families doing their best to raise their kids in the city and make ends meet. Our latest poll shows #WashingtonDC voters disagree with Mayor Bowser and strongly support fully funding both. See more results here: bit.ly/47USWh6
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DCFPI retweeted
The most recent proposal on the table would set an income threshold at $500k, which means that only those with passive income above that mark would pay this tax. About 96% of it would be paid by millionaire households and the rest by those in the $500k to $1M range. 3/
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DCFPI retweeted
It’s pretty “rich” (pun intended) and not at all surprising that the Jeff Bezos owned, self-proclaimed free market advocates at the WaPo editorial board don’t like the Wealth Proceeds Tax. 1/
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DCFPI retweeted
@charlesallen: “Simply saying the word growth over and over again is not the same as supporting it." Thx for speaking on economic growth w/moral clarity. We must reject the notion that growth alone will put DC on sound fiscal footing, esp if there’s no plan for inclusive growth.
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The Council won’t even consider averting some of these cuts through a wealth proceeds tax - a small tax increase on wealthy residents who got a windfall from the Trump tax cuts – which is based on an existing federal tax and has worked in other states. dcfpi.org/all/dc-can-raise-1…
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The Council does this while cutting essential programs and services that help residents with low incomes make ends meet. dcfpi.org/all/years-of-top-d……
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Some important thoughts from our Director of Economic Policy as we get started on the budget conversations today.
⬇️⬇️⬇️
Today the DC Council votes on a budget that creates several new tax breaks for developers with little evidence presented on the need for them or conversation about if they’ll support inclusive growth that benefits DC residents.
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The first vote is tomorrow! Call council and tell them you support a Wealth Proceeds Tax.
More details ⬇️
Long overdue that DC taxes its highly concentrated wealth with a 3% Wealth Proceeds Tax.
No more "We don't have the resources to fund our safety net" "We can't help communities make ends meet in hard times" "Slash essential programs"
Let your Councilmember know you support this
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Before the first budget vote tomorrow, tell your DC Councilmembers that it is time for a wealth proceeds tax. We need to act now to raise revenue, protect essential services, and make DC’s tax system fairer for everyone.
✉️: actionnetwork.org/letters/dc…
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Join us in coming together for DC statehood!
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When you show up for DC, you are showing up for the democracy you want to live in too.
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Come join the team at DCFPI as our new Director of Communications!
Learn more about the position and apply at: dcfpi.org/jobs-and-internshi…
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