Dc City Council Proposal to Raise Income Tax Would Take Heavy Toll On Small Businesses

U.S. Newswire › May 21, 2010

Linked as:

Summary

Proposed income tax increase would hit over 5,000 small businesses

WASHINGTON, May 21 /PRNewswire-USNewswire/ -- As the D.C. City Council works to meet the May 27 budget deadline, Council members Jim Graham, Michael Brown, Tommy Wells, and Harry Thomas are continuing their push for an income tax hike. Under their proposal, there would be two new top marginal rates of 9% for those annually earning between $200,000 and $1 million, and 9.4% for those earning income in excess of $1 million.

See the full content of this document

Extract

Dc City Council Proposal to Raise Income Tax Would Take Heavy Toll On Small Businesses

"This type of fiscal policy is dangerous because it perpetuates a reliance on upper income households and...

See the full content of this document