Economics
America’s Cities Call for Federal Rescue from Economic Collapse
- Cities seek $250 billion, New York’s MTA asks for $4 billion
- Westchester County chief says it’s in ‘budgetary free fall’
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America’s local governments are asking the federal government for massive amounts of aid as the fallout from the coronavirus pandemic threatens to leave them contending with significant budget shortfalls.
On Wednesday, the nation’s mayors requested $250 billion to help cushion the blow to cities stung by the disappearance of tourism, layoffs and the shutdown of schools. With subway and train ridership plunging, New York’s Metropolitan Transportation Authority has asked for a $4 billion bailout. And counties are seeking additional help from Washington as shuttered businesses cause tax revenue to disappear.