WASHINGTON (CBSDC) — D.C. Mayor Vincent Gray has taken some criticism for not spending more or taxing less while the District runs up massive surpluses, but he says that’s about to change.
In his weekly Sunday morning radio address heard only on WNEW, Gray said the time has come to make some major investments in the city.
With the city’s fund balance at a comfortable $1.5 billion, Gray said he’s comfortable spending money on a few things such as affordable housing, libraries and raises for District employees.
“The District is in a strong financial position because of the wise choices we’ve made in the last two years,” Gray said in his weekly Sunday morning radio address. “In this age in federal cuts and furloughs of employees, I’m proud the District is on the move.”
Gray said a possible hit from sequestration is “baked into” the budget, so there won’t be any surprises, even if deep cuts do take place.
Listen to Gray’s weekly radio address in its entirety: