By Ashraf Khalil.

With the nation’s capital facing a pair of overlapping budget crises, D.C. Mayor Muriel Bowser has unveiled a budget proposal that bets heavily on business-friendly policies designed to boost investment and move the city away from dependence on a dwindling number of federal jobs. In the short term, Bowser’s team has been scrambling to fill an immediate budget shortfall that was essentially created by the U.S. Congress. In the longer term, her government faces an estimated $1 billion shortfall over the next three years created by President Donald Trump’s ongoing campaign to radically shrink the federal workforce. The city’s Chief Financial Officer has estimated that 40,000 jobs for District of Columbia residents will ultimately be lost.