Reducing Inequality, Increasing Opportunities for DC Residents: Recommendations to the New Mayor and DC Council
DC Fiscal Policy Institute (DCFPI) has released a new report inequality and opportunity for DC residents. DCFPI seeks to inform public debates on budget and tax issues and to ensure that the needs of low-income residents are considered. DCFPI is a longtime grantee of The Community Foundation. More on the report from DCFPI:
This report offers recommendations for reducing income inequality and for giving all residents of the District of Columbia the opportunity for a secure economic future. As Mayor Bowser and the new DC Council start their work in 2015, the District is in good shape in many ways. But it also faces greater challenges than ever. Prosperity and a growing population have pushed housing prices beyond affordable levels in every corner of the city. The rapidly rising cost of living makes it even more important for residents to have good-paying jobs, yet wages are falling and unemployment remains high for residents without a college degree.
The District has always been a city of haves and have-nots, but the gaps are stretching close to a breaking point. While the top five percent of DC households have incomes over $500,000, higher than the top earners in any major city, the poorest fifth of households live on average income under $10,000. This in part reflects a growing gap between the wages of lower-paid and higher-paid workers – now at the widest gap in 35 years – and public assistance benefits that are low and have not kept up with the rising costs of living.
The negative impacts of poverty and income inequality in the District are clear. The District lost half of its low-cost housing in a decade, and the typical low-income family spends two-thirds of its income for rent and utilities. Homelessness has increased to crisis levels. Progress in improving education outcomes is confounded by a high rate of child poverty, with thousands of children coming to school with stress, malnutrition, and other barriers to succeeding academically.
In order to provide all DC residents the opportunity for a secure economic future, the following reports make recommendations in these areas:
- Preserving and Expanding Affordable Housing
- Creating a High-Quality Education System
- Helping DC Residents Get Good Jobs
- Helping Low-Income Families Succeed through TANF
- Improving Health Outcomes
- Building a High-Quality Homeless Services System for Families and Individuals
- Ensuring Kids Enter School Ready to Succeed through Home Visiting
- Making it Easier for Residents to Apply for Social Services
- Ensuring that Economic Development Programs Are Good Deals for the City
- Putting DC’s Surplus to Good Use by Spending Some and Saving Some
To read the entire report, click here.