Gray: D.C. Budget Deficit Bigger Than Projected
Saturday, Jan 22, 2011 | Updated 10:30 AM EDT
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Mayor Vincent Gray has a warning for District residents and agencies: Be prepared for massive budget cuts.
According to the Washington Business Journal, Mayor Gray’s budget team has revised the projected revenue gap for D.C. for 2012, and the city is $600 million in the red.
This projection is an increase from the projected $545 million gap after the D.C. Council closed the fiscal 2011 gap.
Gray’s budget team has had private meetings with agency chiefs, and told them to prepare for double-digit budget cuts.
Tax hikes are an option, but D.C. council members say they want to try and close the gap by cutting budgets before resorting to raising taxes.
The next NBC Washington PNC Bank Community Shred is scheduled for June 16, 2012.
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