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What’s In Store For the FY 2013 Budget? February 29, 2012 Elissa Silverman DC Fiscal Policy Institute (www.dcfpi.org)www.dcfpi.org.

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Presentation on theme: "What’s In Store For the FY 2013 Budget? February 29, 2012 Elissa Silverman DC Fiscal Policy Institute (www.dcfpi.org)www.dcfpi.org."— Presentation transcript:

1 What’s In Store For the FY 2013 Budget? February 29, 2012 Elissa Silverman DC Fiscal Policy Institute (www.dcfpi.org)www.dcfpi.org

2 What Happened Last Year: Not a Balanced Approach on Cuts

3 Human Services Has Taken a Large Hit in the Last Several Years Source: Office of the Chief Financial Officer, Certification Letter February 2011.

4 Unemployment Continues to Rise For Many DC Residents Source: DCFPI Analysis of the FY 2011 Budget and Financial Plan (December 2010). All figures are in thousands.

5 Child Poverty Has Jumped in DC during the Recession

6 How Should We Think about Solving the FY 2013 Budget Gap? More balanced pie chart of budget cuts Mixture of revenues and cuts: – Forgo “paygo capital” set aside ($50 million) – Deed recordation for commercial refinancing – Require high-income households to combine income – Expand sales tax to more services – Phase out some deductions and exemptions – Raise minimum floor for residential property tax – PILOT for universities and hospitals


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