I have just come back from the other body, where Senator Connie Mack, the chairman of the Joint Economic Committee, has just introduced the DC Economic Recovery Act on the Senate side, the bill I introduced on April 15 on the House side, in order to give a tax reduction to the residents of the District of Columbia, who are fleeing in awesome numbers. The District does not have a State, so any tax incentive--tax cut will have to come from this body. The alternative to a tax cut to help to keep middle-income residents in the city is annual increases of a very significant magnitude in the Federal payment. The reason that would be necessary is that the Constitution requires the Congress of the United States to maintain the Capital of the United States. For over 200 years, it is the residents of the Capital of the United States who have maintained the capital, but their flight in great numbers and the insolvency of the city put the capital of the United States at risk. No one can doubt that this is the case if you look at the chart before us. The tax base is already gone. Eighty-three percent of tax filers have an income of less than $50,000. To quote Senator Mack: Washington's situation is desperate.
Editor's note · Context
Discussing the introduction of the DC Economic Recovery Act and its implications for residents of the District of Columbia.
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