WebMay 20, 2024 · The downturn for cities has been as sudden as it is severe: In Detroit, casinos have been forced to close, depriving the city of a major source of revenue and leaving it with a $350 million deficit . WebAug 18, 2024 · With hundreds of millions of dollars, Palm Springs could patch this year’s $40 million budget gap and still have gobs of money left over. With its share of $10 billion, the city of Fort Worth...
UK is worst performer in G7 for workforce participation since …
The fiscal shock from the pandemic is expected to be comparable to that of the last recession. Before the pandemic’s start, state budgets had mostly recovered from the 2007–2009 crisis, and many had built up rainy day funds to draw from during downturns. But the cushion is nowhere near sufficient to prevent … See more Most state and local governments keep two budgets. The operating budget, often simply referred to as “the budget,” funds ongoing outlays such as employee salaries, payments for services, and interest on long-term … See more The U.S. national economy is composed of a vast collection of local and regional economies, where state and local policies play a significant role. Collectively, state and local … See more The deep economic recession of December 2007 to June 2009 and slow recovery put many subnational budgets in unusually dire straits. Depressed tax revenues, elevated … See more On their own, state and local governments have few optionsfor dealing with budget shortfalls of great magnitude. Some states’ laws prohibit … See more WebJul 27, 2024 · San Francisco is likely to cut its fiscal 2024 budget below last year’s $6.5 billion, Rosenfield said. The city’s property tax revenues have held steady, but just about … tax compliance flight
How the Pandemic Has Affected Municipal Budgets in …
WebMar 5, 2024 · The left-leaning Center on Budget and Policy Priorities recently estimated that the budget gap is around $225 billion, but it noted that that doesn’t include states’ and … WebMar 30, 2024 · Among its conclusions, the analysis found: In planning for fiscal 2024 last spring, officials in these cities projected budget shortfalls ranging from 1.9% to 17% of the prior year’s general fund adopted … the chebeague island inn