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:
What’s In Store For the FY 2013 Budget? February 29, 2012 Elissa Silverman DC Fiscal Policy Institute (www.dcfpi.org)www.dcfpi.org
What Happened Last Year: Not a Balanced Approach on Cuts
Human Services Has Taken a Large Hit in the Last Several Years Source: Office of the Chief Financial Officer, Certification Letter February 2011.
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.
Child Poverty Has Jumped in DC during the Recession
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