Laying the foundation for a resilient fiscal future for the District of Columbia
The proposed fiscal year 2025 budget includes both spending cuts and tax increases, but still requires $2.3 billion in fund balance use over the next four fiscal years to balance the financial plan. Given the scale of this structural gap and our current economic conditions, the city can no longer hope that revenues surpassing estimates will automatically solve this problem. Accordingly, we need to take bold, innovative steps now to build a stronger fiscal future. Executive Director Yesim Sayin and Rivlin Initiative Director Daniel Burge recommend three measures the District can take now to support a fiscally resilient future.