COMMENTARY | As state and local leaders wait to see if they will get more federal aid to deal with their growing revenue shortfalls, fiscal stability will be more attainable by paying heed to experts who helped the country out of the Great Recession.
The effort in Philadelphia involves both union and non-union employees and comes as city elected leaders are trying to solve a budget shortfall caused by the coronavirus outbreak.
COMMENTARY | Short-term financing, Federal Reserve program may buy time, but budgets will need adjusting.
The downbeat figures came as the unemployment rate overall showed signs of improvement in May after skyrocketing amid the coronavirus pandemic.
Like other localities, the coronavirus has Rochester, Minnesota facing questions about both its financial outlook and future economic growth.
The latest move will ensure that at least two local governments in each state have access to the program, which is designed to help states and localities weather the coronavirus crisis.
Coronavirus-Related Debt Will Live in Digital Profiles for Years—Hurting Americans’ Ability to Get Jobs, Apartments and Credit
COMMENTARY | The effects of evictions and increased debts can last a long time. Companies capture this information in people’s credit scores and digital profiles.
The deal would send 15% of any national settlement deal directly to cities and counties.
Districts that can largely support themselves with local tax dollars are in a better position as the economic downturn continues.
“The challenge for 97% of America's cities is that we haven't received any funding yet,” says one mayor.
Not all businesses have been able to survive the coronavirus pandemic.
Thirty states, from Maine to Montana, have instituted either a mandatory or recommended 14-day quarantine for visitors.
The Treasury Secretary also clashed with Sen. Sherrod Brown over how well-prepared the nation is currently to limit coronavirus risks as the economy begins to reopen.
COMMENTARY | Don’t think of that number as “big” or “bold.” Just think of it as the appropriate dosage for a once-in-a-century economic affliction.
The temporary income tax increase they’re supporting would apply to households making upwards of $250,000 per year. The state, like others, is facing budget pressures tied to the coronavirus outbreak.
The Trump Administration Says a New Bailout Program Will Help 35 Million Americans. It Probably Won’t.
Experts from across the political spectrum fear that the Federal Reserve’s new Main Street Lending program won’t reach enough businesses or save enough jobs.
This is underscored by a new report from the Federal Reserve, which also highlights how job losses during the coronavirus outbreak have been severe for lower earners.
Welcome to Youngstown, Ohio, home of Chill-Can, the self-chilling beverage container you’ve probably never heard of. Officials have gambled millions of dollars and demolished a neighborhood for the product. Not one job has been created yet.
The sales are a rare bright spot for state budgets.
New research warns that the nation’s worst-off retirement plans for state and local government workers “face the risk of running out of assets in the foreseeable future" if there's a slow recovery.
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