The D.C. Council just voted 12 to 1 to override the Mayor’s veto of the budget/taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. reform bill. The bill reduces middle-class income tax burdens, cuts business taxes, and broadens the sales taxA sales tax is levied on retail sales of goods and services and, ideally, should apply to all final consumption with few exemptions. Many governments exempt goods like groceries; base broadening, such as including groceries, could keep rates lower. A sales tax should exempt business-to-business transactions which, when taxed, cause tax pyramiding. base to personal services, starting in 2015. All told, it is a revenue cut of $158 million over five years. We’ve spoken and written extensively on the benefits of this positive tax reform package; click here to see more details about what’s in the bill.
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