make work pay
According to the DC Fiscal Policy Institute, the richest five percent of District households have an average income of $473,000, the highest among the 50 largest cities in the United States. Meanwhile, the poorest 20 percent of District households have incomes averaging under $10,000. As a result, income inequality in the District – the gap between rich and poor – is tremendous.
It is third highest among the nation’s largest cities. To retain our place in the global economy, the District must place a renewed emphasis on the pursuit of economic security for all residents; simply put, we must ensure that District residents who do work bring home enough to provide for their family and to contribute to the District’s economy.
The core components of economic security allow families to work, to make ends meet by providing for housing, utilities, food, transportation, child care, essential personal and household items, health care and taxes. Because simply meeting basic needs is not enough to be economically secure, we must also include emergency and retirement savings to help families avoid crises, if not poverty.