Low Municipal Bond Yields Will Aid Virus Recovery
After the public-health crisis ends, cheap borrowing costs should help cities and states rebuild.
Silver lining.
Photographer: Timothy A. Clary/AFP via Getty ImagesWhen the coronavirus finally fizzles out as a public-health threat, state and local governments will struggle to start picking up the economic pieces. Starved of tax revenue for months, they’ll need to find other ways to raise money as they wait for businesses to regain their footing.
Washington is working on ways to help. President Donald Trump belatedly abandoned his dismissive bystander stance when he declared a national emergency on Friday the 13th last week, committing $50 billion to these beleaguered stewards at the center of the health crisis. Democrats in the House of Representatives won his support for another relief package that’s now before the Senate.