(Washington, DC) – Today, the DC Government released the revised revenue estimates for the FY 2020-2023 District of Columbia Budget and Financial Plan. The forecast for local fund revenues is revised upward in FY 2019 by $280 million. In response to the new estimates, Mayor Bowser released the following statement:
“2019 has been a successful year for DC with championships by our Mystics and Nationals and our students continuing their impressive academic progress. Now the final revenue estimate of 2019 shows the strength of our economy. From Congress Heights to Friendship Heights, across all eight wards of DC, we see the results of our city’s financial strength. We see these results in the affordable housing we are building for seniors and families to keep their roots here, in our modernized public schools and new child care seats, and in the job opportunities we are creating for DC residents. We go into 2020 focused on building an even more inclusive future: new year, new housing. In 2019, we set an ambitious housing goal – 36,000 new homes by 2025. With a strong economy and a community committed to equity, we go into 2020 knowing that 2025 is just around the corner and ready to build citywide solutions that embody DC values.
“We are proud of the progress we are making but also know we have more work to do to create more affordable housing, address homelessness, reduce violent crime, and give all residents a fair shot at pathways to the middle class. We look forward to another decade of success as we start 2020, and wish all Washingtonians a happy and healthy New Year.”