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D.C. Council rejects tax hike for high-income residents

**FILE** D.C. Council member Jim Graham (Liz O. Baylen/The Washington Times)**FILE** D.C. Council member Jim Graham (Liz O. Baylen/The Washington Times)

By ASSOCIATED PRESS

-

Associated Press

Wednesday, May 26, 2010

WASHINGTON | The D.C. Council has rejected an income tax on residents who earn more than $350,000.

The tax was proposed Wednesday by council member Jim Graham. Graham said that over the next four years, his proposal would raise $77 million. Council member Michael Brown said the tax would affect the top 2 percent of earners in the city. It would raise the income tax from 8.5 percent to 8.9 percent, Graham said.

The council ultimately rejected the proposal.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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