DC Experiencing Drain of Young Residents, Money

(Washington, DC) – Washington, DC is experiencing a loss of young residents, who are also taking their money with them. The District’s Office of Revenue Analysis looked at IRS records and found nearly 16-thousand households left DC between 2019 and 2021. The result was a net loss of three-billion-dollars in taxable income, with about one-point-two-billion shifting to the nearby suburbs. Figures show most of the tax filers were in the 26-to-44 age group; nearly two-thirds of these earned six-figure incomes.