A $11.6 billion downside: As COVID-19 drains budgets, U.S. cities might face chapter


U.S. cities are quick operating out of money.The pandemic will cut back native authorities revenues by an estimated US$11.6 billion in 2020. With COVID-19 requiring residents to remain dwelling and shops to shutter, the majority of this discount comes from a droop in native gross sales taxes. Declines will proceed into 2021.State revenues are heading in the identical route, so many U.S. cities...