Brian Chappatta, Columnist

The Big Question: Can States and Cities Recover from Covid?

A Q&A with municipal finance experts Richard Ravitch and Antonio Weiss on why local government shortfalls put the U.S. economy at risk.

September 13, 2020 at 8:00 PM UTC

By Brian Chappatta

Brian Chappatta is managing editor of Bloomberg News' leveraged finance and distressed debt teams. He was previously managing editor and team leader of its wealth group. Before that he was a Bloomberg Opinion markets and finance columnist and a bonds reporter for Bloomberg News.

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*Photographer: OLIVIER DOULIERY/AFP*

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This is one of a series of interviews by Bloomberg Opinion columnists on how to solve today’s most pressing policy challenges. This interview has been edited and condensed.

Brian Chappatta: U.S. states and cities are projected to face massive revenue shortfalls in the coming years due to the coronavirus pandemic. And yet, Congress can’t seem to agree to another round of fiscal aid that supports municipal budgets. What’s the holdup in Washington? Just how critical is federal support?