Press Release: Councilmember McDuffie’s Statement on the December 2021 Revised Revenue Estimates

News Release — Ward 5 DC Council member Kenyan McDuffie

For Immediate Release: Thursday, December 30, 2021

Contact: Narrean Marsden

Washington, D.C. — Today, Councilmember Kenyan R. McDuffie, Chair Pro Tempore of the Council and Chair of the Committee on Business and Economic Development, released the following statement on the DC Chief Financial Officer’s (CFO) updated revenue estimate:

“The District’s CFO, Fitzroy Lee, just provided the Mayor and Council with an updated financial forecast for the fiscal Year (FY) 2021 – 2025 financial plan. The December 2021 revised revenue estimate includes a revenue surplus of $576 million in FY 2021 and approximately $2 billion over the financial plan. While the District’s revenues are growing, the COVID-19 recession is still impacting our low wage workers and the industries that employ them.”

The District’s leisure and hospitality sectors have experienced significant challenges throughout the pandemic, causing many establishments to close and others to operate at reduced capacity. Since the beginning of the pandemic, I have worked with my Council colleagues as well as business and labor leaders to direct more than $188 million in grants to small businesses to help keep our residents employed and our businesses open.

Until our economy fully recovers from the COVID-19 pandemic, I will continue to put forth measures to help our most vulnerable residents, displaced workers, and struggling businesses.”

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