D.C. Mayor Muriel E. Bowser (D) says she is carefully reviewing new spending proposals in light of the District’s economic slowdown. But experts say the boom that has propelled that economy for much of the past decade is beginning to fade, and some of the most concrete signs yet of the slowdown appeared this week as D.C. Mayor Muriel E. Bowser (D) released her proposed budget. And for programs that span multiple years, Taylor added, “out-years get even tighter.”Recent reports from D.C. Chief Financial Officer Jeffrey S. DeWitt present a clear picture of a cooling economy. In an interview this week, Bowser said questions about the stamina of the District’s hot economy had been top of mind as she and her staff prepared the budget. [District government will see almost no revenue growth because of shutdown]To guard against sudden losses in tax revenue, the city today maintains more than $2 billion in reserves.

Source: Washington Post March 22, 2019 19:41 UTC