Press Release: Chairman Mendelson Statement on February 2021 Revenue Estimates

FOR IMMEDIATE RELEASE:

Friday February 26, 2021

CONTACT: Lindsey Walton

WASHINGTON, DC — Chairman Phil Mendelson released the following statement about the February 2021 revenue estimates:

“Today’s revenue estimates are good news – the economy is still improving – and bad news: there continues to be deficits in the forecast.  Even with these new estimates, the CFO projects that tax revenues to the city will be 1.7% below last year’s.  Last year’s (even with the year-end surplus) were 2% below 2019.

The federal relief proposed by President  Biden and pending in Congress will make an important difference because our economy is still below 2019 levels.  And because there are still so many local businesses and residents who need financial assistance.  I am grateful the revenue estimates are positive. But we still have a ways to go.”

The February revenue estimates are available at https://cfo.dc.gov/node/1525046.

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