The Budget to Cancel a Holiday?

If the DC mayor's budget proposal goes through, Emancipation Day will be "discontinued" next year. This day has only been a holiday for four years, and while some think it's unnecessary, others are worried about the message that will be sent out if it is canceled.

Although I think there are way too many random holiday's already, I've never thought about the fact that a budget could create or destroy one. Maybe a holiday with a little less historical significance could be canceled instead. Personally, I think Columbus Day is somewhat outdated...