WAMU: Tax Incentives For D.C. Tech Companies Poised To Be Slashed

May 27, 2019

The QHTC tax incentive program cost the District $184 million in corporate franchise tax revenue between 2001 and 2015, including more than $100 million collected by companies that were already located in the District and paying taxes prior to being eligible for the program. This tax incentive is ineffective, and those funds could better serve DC children—which is why we testified in favor of eliminating the incentive last week. We strongly support investments that help implement the Birth to Three for all DC Act and expand school-based mental health supports.

WAMU’s Ally Schweitzer recently wrote about the tax incentive:

Scaling back the tax abatements would reclaim nearly $16 million per year in foregone tax revenue, Nadeau says, and that money would be allocated towards permanent supportive housing, school-based mental health services, childcare subsidies and homeless outreach, among other programs. Joanna Blotner, D.C. campaign manager with Jews United for Justice, said boosting funding for such programs would “advance socially-just spending priorities.” Similar views were expressed in testimony from the Children’s Law Center, D.C.’s Working Families Party and Miriam’s Kitchen, among others.

You can read the full article here.