April Surprise Lifts FY 2025 Revenue, But Outyear Forecast Holds Steady
The District of Columbia’s June revenue estimate raised the FY 2025 forecast by $243.7 million, following an unexpected surge in April tax payments from corporations and high-income individuals—an "April Surprise" driven by strong capital gains and profits related to tax year 2024. As this boost is considered one-time in nature and the broader economic outlook has not shifted since February, projections for FY 2026 through FY 2029 remain unchanged.
