WASHINGTON - The cash-strapped capital is renewing its efforts to collect local income taxes from mortgage titan Fannie Mae.

Because of an exemption conferred by Congress, Fannie Mae, formally the Federal National Mortgage Association, pays no local taxes. The company, which posted profits of more than $2 billion last year, might have to pay some $300 million to the city if it were taxed like other corporations.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.