As cities and states face pandemic-induced budget shortfalls, they’re struggling to create playbooks to help businesses get back on their feet and put millions of unemployed Americans back to work.
The Brookings Institution projects that state and local government revenues will decline $167 billion in 2021, and $145 billion a year after that.
That doesn’t leave local and state policymakers with a lot of levers to pull to stimulate economic growth.
That puts the onus on these leaders to strike a careful balance: Come up with creative ways to help these businesses without depleting key funds that are needed to keep emergency service workers and teachers employed, as well as deliver adequate services to residents.
Thankfully, there are some models for supporting businesses of every shape and size, whether brick-and-mortar Main Street stores or home-based digital enterprises.
Among … Read more