On July 13, 2022, D.C. Policy Center Executive Director Dr. Yesim Sayin was quoted by the Washington Business Journal:
Even if employees do come back a few days a week they’ll be spending less. If the estimated 155,000 who commute into D.C. from nearby came in just days a week, D.C. would lose out on $62.9 million a year in sales tax revenue, according to the analysis. Yesim Sayin, its executive director, said that puts more importance on a strategy that proves a value of in-person work.
“it doesn’t sound like a lot but it adds up very quickly in a few years,” Taylor said. At the same time, the rise of remote work is reducing occupancy rates at downtown office buildings, threatening property values and tax revenues, while the sluggish pace of the return of tourists in some areas could further cut into tax collections. That, in turn, makes it more important to attract residents.
“We have to double down on new residents and that means building more housing,” Taylor said. “That’s not an easy solution. There’s a lot of conversation around affordability, but the goal will be any type of housing.”