In 2021, there will be a new mayor, up to seven new commissioners and there won’t be a $1 billion boost to the Miami-Dade budget from the CARES Act. Many are worried about impending budget cuts.
A new proposed coronavirus aid package would be very similar to the one enacted in the spring: stimulus checks, renewed PPP funding and increasing unemployment benefit payments. Getting agreement in Congress remains a challenge.
Detroit projected an additional loss of $62 million and 50,000 jobs last week. Still, although the city needs to make adjustments to balance the budget, officials manage to remain optimistic: “It’s a solvable challenge.”
Caught between the Federal Reserve's new strategy for managing inflation and historically low bond yields, the plans now need to take a fresh look at their actuarial assumptions and inflation protection.
More than 75 businesses received loans from the coronavirus small business relief program that appear to be fraudulent or ineligible for the program. One in every four businesses that received PPP loans in Florida have been flagged.
Sacramento, Calif., will begin redirecting money from the city budget into a new fund that the public will determine how to spend. But the fund won’t use money from the policing budget and it won’t be as large as planned.
Lawmakers want to increase the budget by adding tax credits for immigrants, increasing COVID-19 outreach and encouraging businesses to hire workers while facing a projected $8.7 billion deficit for next year.
New York City has announced the possibility of laying off up to 22,000 municipal workers due to coronavirus cutbacks. Yet, the city is still maintaining $163 million in contracts with companies like Deloitte and KPMG.
In the absence of substantial pandemic aid from Washington, there might be a role for the central bank: longer-term loans. But let's not create another perpetual-deficit machine.
San Diego County adopted a $6.55 billion budget that it hopes will be enough to support the community through continued COVID response, predicted wildfires and ongoing issues like homelessness and affordable housing.
Gov. Charlie Baker has announced that the funds in grants will be put toward addressing food insecurities caused by the coronavirus pandemic. Some funds will be invested in technology to help producers distribute food.
