WASHINGTON D.C. (AP) — The booming Washington region would take a big hit from President Donald Trump’s proposed budget.
While it’s highly unlikely to be enacted, the budget released by the White House this month would eliminate tens of thousands of federal jobs in the District of Columbia and its suburbs. That would add up to billions of dollars in lost wages and millions of square feet in vacant office space.
Economist Stephen Fuller of George Mason University says the loss of jobs and tax revenue for local governments would be a “double whammy” that could lead to a recession. He says Washington is still a “company town” that’s deeply dependent on federal spending.
Of the 19 independent agencies that Trump wants to eliminate, 16 are headquartered in Washington. Another is in Arlington, Virginia.