DiNapoli: NYC Tax Collections Expected to Fall for First Time Since Great Recession

Posted to Applied Web NY on Wed, 05/13/2020 - 16:09

Recent unemployment claims suggest that most of New York City’s job gains over the past decade have been lost due to the economic impacts of the coronavirus. The city now forecasts its economy will shrink by 12.9 percent in 2020, according to a report released today by New York State Comptroller Thomas P. DiNapoli. Tax collections are projected to fall next fiscal year for the first time since the Great Recession.

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