In Manhattan 90% of office workers still missing, Tax revenues are collapsing
(From The Wall Street Journal)
The dearth of employees at their desks could also have long-term consequences for the city’s economy and tax base. The Metropolitan Transportation Authority, which relies heavily on commuter revenue, faces a $12 billion shortfall by the end of 2021 and is considering crippling service cuts. Manhattan’s low office turnout also has contributed to a $9 billion drop in sales tax and other revenue the city government is projecting for its fiscal year that started July 1.
This article was originally posted here: https://www.ac2news.com/2020/10/in-manhattan-90-of-office-workers-still-missing-tax-revenues-are-collapsing/.