4 years ago

👉States & Cities Bankruptcies Are The Next Shoe to Drop-America will Follow !!

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States Bankruptcies are the next shoe to drop.

The Pandemic has triggered a severe state budget crisis, the full magnitude of which is not yet evident.
State revenues are declining precipitously while costs are rising sharply.
States across America have seen their revenues dropping as revenues from income tax and sales tax are falling.
Many are going to have to make significant cuts fast unless the federal government does more to step in.
Thirty-one states rely on income taxes as their most significant sources of revenue, but fewer Americans will have paychecks coming in because of the outbreak, meaning a decrease in tax revenue. Some states such as Florida and Washington have no income tax and rely on sales tax, but those revenues have also taken a hit.
State budget shortfalls this time around could total more than $500 billion in a single year.
Cities and states across the country are now sounding the alarm.
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