Sunday, July 13, 2014

#dcfy15 budget update, July 13

From the DC Council:

Full scope of FY 2015 budget, explained

With all the discussions of individual aspects of the budget recently approved by the Council, it is all too easy to lose the forest in the trees. Let's try to zoom out a bit, then zoom back in, all in a way that's more approachable by the average District resident.

Due to the District's unusual status, the budget approval process is also complicated, involving passage of two pieces of legislation. The second of the two, the more detailed Budget Support Act, contains details of new programs and initiatives, as well as new policies for the District government. The Budget Support Act (BSA) must be voted on twice—it was approved 13-0 on May 28 and 12-1 on June 24. Subsequently, the Mayor vetoed an emergency version of the BSA, and on Monday, July 14, the Council will consider an override of the Mayor's veto. If the veto is not overriden, the individual and business tax savings outlined in the charts below will never occur.

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How much more taxes will YOU pay if the Mayor's budget veto stands?

The Council passed the Budget Support Act (BSA) twice, as required by law: by a vote of 13-0 on May 28 and by a vote of 12-1 on June 24. That legislation included a progressive package of tax reforms for both individuals and businesses. Subsequently, the Mayor vetoed an emergency version of the BSA. On Monday, July 14, the Council will consider an override of the Mayor's veto, which would require the votes of at least nine Councilmembers.

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How much more taxes will YOUR BUSINESS pay if the Mayor's budget veto stands?

The Council passed the Budget Support Act (BSA) twice, as required by law: by a vote of 13-0 on May 28 and by a vote of 12-1 on June 24. That legislation included a progressive package of tax reforms for both individuals and businesses. Subsequently, the Mayor vetoed an emergency version of the BSA. On Monday, July 14, the Council will consider an override of the Mayor's veto, which would require the votes of at least nine Councilmembers.

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DC Council action on Mayor Gray veto of FY 2015 budget.   At the July 14 Legislative Meeting, the DC Council will take up the recent veto of the FY 2015 budget by Mayor Vince Gray.

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