(Washington Post) — D.C. Mayor-elect Vincent C. Gray (D) said Monday he might propose higher property, income or sales taxes to close a budget shortfall expected to exceed $500 million in the next two years. Gray’s comments, made during a television address designed to communicate the magnitude of the city’s financial challenges, were his most direct so far about what sacrifices he may ask from residents after he takes office Jan. 2. “It’s your money we’re dealing with – you deserve honest talk about what’s going on with it,” Gray said.
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