Sign on to Support the People’s Tax Plan
DC Lawmakers
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Right now, DC Council is grappling with hundreds of millions of dollars in cuts to the District budget.
Taxes support thriving communities where people want to live. They allow for high-quality education for DC's children, well-functioning public transportation for workers and businesses, and much more. But DC's tax system lets the rich get richer while shortchanging our public resources.
To protect DC's critical programs and services from cuts, DC Council should tax wealth to raise revenue.
In DC, one in five Black people live in poverty
while just 1,500 mostly white households hold nearly half the wealth in the
District. By building a tax system for justice – a tax code for the people – we can reverse budget cuts, end poverty in the District, and build an inclusive economy rooted in community care.
Sign onto the People's Tax Plan to show your support.
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The People's Tax Plan will increase the shared resources we need so our families and communities have what they need.
Tax wealth. D.C. should address the extreme concentration of wealth in the hands of a few by strengthening taxes on inherited wealth and profits from the sale of assets, such as investments in the stock market.
Increase taxes on high incomes. Families with incomes in the top 5 percent pay less in taxes—proportionate to their income—than families in the middle. The District can increase the taxes paid by the highest-income families and limit the tax breaks they are granted.
Achieve fair business taxes. All corporations that operate in the District and benefit from its strong economy and public services must pay their fair share in taxes. Right now, some don't because their owners reside outside of D.C. or because they can hide their profits. Taxing business activity instead of taxing owners' profits and modernizing the method by which corporate profits are determined in various states will ensure that all businesses contribute to our shared resources.
Help low- and moderate-income households cover their expenses and needs. Creating a local child tax credit can address childhood economic hardship and poverty. Additionally, expanding the D.C. property tax credit for low- and moderate-income homeowners can ensure that these individuals can afford to remain in the District and pass that wealth on to future generations.
To:
DC Lawmakers
From:
[Your Name]
Right now, DC has critical spending needs – from the WMATA budget shortfall to our unfulfilled commitment to end chronic homelessness – but under-taxes wealth, shortchanging the shared resources that fund public programs and services that support a thriving economy for all. It’s time to increase our public resources so we can all share in DC’s prosperity.
The benefits of economic growth overwhelmingly flow to the top despite contributions from the many. Just 1,500 households in DC have a net worth over $30 million and they hold nearly half of all wealth in the District, most of which goes untaxed. We can ask the wealthy to contribute more.
With the revenue raised from taxing wealth, we can make investments that help ensure every family can put food on the table, workers have transportation to get to their jobs each day, and every resident has the resources to build wealth and opportunity to live to their fullest.
The People’s Tax Plan will raise the shared resources we need so our families and communities will have what we need.
1. Tax wealth: DC should take aim at the extreme concentration of wealth in the hands of the few by strengthening taxes on inherited wealth and profits from selling assets like stock market investments.
2. Increase taxes on high incomes: Families with incomes in the top 5 percent pay less in taxes as a share of their income than families in the middle. DC can raise taxes on the highest income families and limit their income tax breaks.
3. Make business taxes fair: All corporations that operate in and benefit from the District’s robust economy and public services should pay their fair share in taxes. Right now, some of them don’t because their owners reside outside of DC or because they can hide their profits. Shifting to a tax on business activity rather than owner profits and modernizing how we determine multi-state corporate profits will ensure all businesses contribute to our shared resources.
4. Help low and moderate-income households make ends meet: Creating a local child tax credit can take aim at child poverty and economic hardship. And expanding DC’s property tax credit for low- and moderate-income homeowners can ensure they can afford to stay in DC and pass on that wealth to future generations.