Here is Economic Growth DC’s statement on the recommendations of the DC Tax Revision Commission. We want to thank the commissioners for what we’re sure was a long, grueling slog. The commissioners gave up their personal time in a true act of service to the District. Congratulations on a job well done to Chairman Williams, the commissioners and Executive Director Gerry Widdicombe and his staff.
FOR IMMEDIATE RELEASE:
Statement on the DC Tax Revision Commission’s Recommendations
December 19, 2013
The DC Tax Revision Commission recommended a $100 million reduction in individual income tax rates for low to moderate income residents. The Commission should be commended for this recommendation. It is the most pro-growth recommendation the panel made and will act as a permanent stimulus for the DC economy. It is also an implicit acknowledgement that lower tax rates are better than higher ones for economic growth, job creation, and ultimately tax revenues. We consider this a down payment on an across the board income tax rate reduction, which would be the single most beneficial tax revision possible in terms of boosting the economy.
The various business tax rate reductions included in the package will also aid growth.
Economic Growth DC is a political and economic advocacy organization that serves as a catalyst for increasing the rate of growth of the District’s economy.
Economic Growth DC
1130 Connecticut Avenue NW, Suite 350
Washington, DC 20036