Gray: Sequestration Has Been a Drag on DC’s Growth
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LANHAM, Md. (CBSDC) — In the seven months following the start of sequestration, the number of private sector jobs in D.C. increased by more than 3,000, according to Mayor Vincent Gray.
In the same time period, 7,000 government jobs in the District disappeared.
“Sequestration is clearly a drag on our growth and the dramatic loss of federal jobs isn’t the only problem,” Gray tells WNEW in his weekly radio address exclusive to All News 99.1.
“Furloughs that result in lower salaries for federal workers translate into lower sales for District-based retailers, and reduced tax revenues for the District government. Sequestration also means significant cuts in local programs funded by federal grants that the District government will now either have to cut or back fill with our own locally raised funds.”
In fiscal year 2014, D.C. is projected to lose approximately $30 million in federal funds, including $11 million for low income housing and $6.3 million in education.
“The District’s economy will pay a disproportionate price in both the short and long term while sequestration is in effect,” Gray says. “Like other mayors around the country, I’m calling for Congress to refine their approach to reducing the deficit and implement ways to reign in federal budgets that don’t result in sequestration’s dramatic, job-killing effect.”
Hear the Mayor’s full address here: