D.C. Democratic committee wants to tax the rich
The D.C. Democratic State Committee approved a resolution Thursday night calling on the city council to raise taxes on city residents who earn $200,000 or more a year, about 5 percent of the population.
The resolution, which comes as some liberal advocates are pushing for higher taxes to stave off additional budget cuts, endorses raising the income tax from 8.5 to 9 percent on individuals who earn between $200,000 and $1 million. The committee also supports raising the rate to 9.4 percent on those who earn more than $1 million a year.
Currently, all District taxpayers who earn $40,000 a year or pay an income tax rate of 8.5 percent.
The resolution requests that the council create a fair budget that draws support "from those who are least affected by the recession while protecting and enhancing services to vulnerable populations."
The council, made up of 11 Democrats and two Independents who often voted Democratic, is expected to approve the 2011 budget in late May.
May 7, 2010; 3:37 PM ET
Categories: Budget , D.C. Democrats & Republicans , Tim Craig
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