(Washington Business Journal) — The D.C. Council on Wednesday rejected a proposal to boost the income tax on top earners, added sweetened soda to those items subject to the 6 percent sales tax and stripped funding from the H Street NE streetcar line (see related story).
The Council’s action, if fully enacted by Congress, would balance the fiscal 2011 $5.2 billion budget, bridging a half-billion dollar shortfall.
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