From the Alexandria Gazette:

THE NEW TAXES and fees created about $18 million in new revenue, and Hartmann’s cost-saving measures created about $2.3 million in spending reductions. Yet one potential new source of revenue was delayed Monday night. Councilman Justin Wilson’s proposal to raise taxes on payday lenders and car-title lenders, which he called “predatory lending institutions,” was put on hold after several industry representatives publicly threatened a lawsuit if the City Council decides to move forward with the plan. Although council members did not vote on this particular ordinance last night, the budget includes the new revenue from the tax and spending line items include funding for the financial literacy programs that Wilson’s plan suggested.

“We don’t want to get involved in a lengthy legal fight that will swallow up all the potential new revenues,” said Wilson. “So rather than saying ‘damn the torpedoes, full speed ahead’ we are going to see if we can have a meeting of the minds with the industry.”