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Where the future of local and state government revenues is looking grim, they are also faced with some serious cuts to produce a balanced budget for the next fiscal year. The recent example is New York City’s proposed budget, which introduced some serious spending cuts to services like cultural affairs and after-school programs to make up for over $9 billion in lost revenues due to COVID-19.
In this article, we will take a closer look at the various budget cuts that cities and counties are proposing and how they may impact the municipal debt world.
Be sure to check out our Education section to learn more about municipal bonds.
Now, what does this lost revenue entail?
Use our Screener to find the right municipal bonds for your portfolio.
Here are some of the key guiding philosophies for a local government and its constituents:
Want to learn more about the potential impact of COVID-19 on local and state governments? Click here.
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Disclaimer: The opinions and statements expressed in this article are for informational purposes only and are not intended to provide investment advice or guidance in any way and do not represent a solicitation to buy, sell or hold any of the securities mentioned. Opinions and statements expressed reflect only the view or judgement of the author(s) at the time of publication and are subject to change without notice. Information has been derived from sources deemed to be reliable, the reliability of which is not guaranteed. Readers are encouraged to obtain official statements and other disclosure documents on their own and/or to consult with their own investment professionals and advisers prior to making any investment decisions.