Friday, September 24, 2004

Businesses Receptive to D.C. Stadium Tax

Biggest Would Pay $28,000 a Year
By Monte Reel and Karlyn Barker
Washington Post Staff Writers
Friday, September 24, 2004; Page A13

Many of the D.C. businesses that would be taxed to help pay for a new baseball stadium said yesterday that they support the preliminary details of the proposal, which as currently envisioned would cost the city's largest companies up to $28,000 a year.

The proposed tax would apply to District-based businesses that take in at least $3 million a year in gross receipts -- nearly 2,000 businesses in all, city officials said. They said the smallest of those businesses probably would pay about $2,500 a year and the largest about $28,000.

Bob Peck, president of the Greater Washington Board of Trade, said most members of his group responded favorably to the proposal after city officials laid out preliminary details for them during a flurry of hastily scheduled briefings over the past two days.

"We're talking numbers that for a lot of the larger members, at least, are not going to break the bank," Peck said.

Jamie Williams, president of the D.C. Building Industry Association, said his members also generally supported the plan after being briefed by Deputy Mayor Eric W. Price last night.

"While in general no one is in favor of new taxes, it seems in this case that the benefits certainly outweigh the burdens," he said. "The hope, of course, is that the numbers might change and be less than that, but I think we need to have faith in both the executive branch and the council that the details will be worked out in a fair and timely manner."

Read the entire article here on the Washington Post website.