Last year, as part of the fiscal year 2024 operating plan, the city budget division projected shortfalls increasing to $41 million by the end of the decade.
ST. LOUIS — The city of St. Louis faces a potential budget crisis if it loses a big chunk of its earnings tax revenue while dealing with what some call a “fiscal cliff.”
For several years, consultants have used long-range forecasts to warn the city about spending exceeding revenue, calling it a “structural imbalance” which could create a $45 million budget shortfall. Meanwhile, a lawsuit challenging the city’s decision to not refund the 1% earnings tax to non- city residents who work remotely for companies in St. Louis threatens to
blow a hole as large as $50 million in the general fund budget. That would equal nearly one quarter of fiscal year 2024Â’s projected earnings tax collections.
The convergence of those two issues – along with the specter of a
recession — could trigger a years-long battle among the city, local governments in the metro area and the state over how to maintain basic
levels of services in St. Louis.
Click here for the full story from the St. Louis Business Journal. A subscription is required.
https://www.ksdk.com/article/news/politics/earnings-tax-battle-threatens- push-st-louis-toward-fiscal-cliff/63-85cadd22-e604-4077-aa61- 52b590f4b089?ref=exit-recirc
On Fri, 19 Jan 2024 15:38:24 -0000 (UTC), pothead <pothead@snakebite.com> wrote:
On 2024-01-19, useapen <yourdime@outlook.com> wrote:
Last year, as part of the fiscal year 2024 operating plan, the city budget >>> division projected shortfalls increasing to $41 million by the end of the >>> decade.
ST. LOUIS ? The city of St. Louis faces a potential budget crisis if it
loses a big chunk of its earnings tax revenue while dealing with what some >>> call a ?fiscal cliff.?
For several years, consultants have used long-range forecasts to warn the >>> city about spending exceeding revenue, calling it a ?structural imbalance? >>> which could create a $45 million budget shortfall. Meanwhile, a lawsuit
challenging the city?s decision to not refund the 1% earnings tax to non- >>> city residents who work remotely for companies in St. Louis threatens to >>> blow a hole as large as $50 million in the general fund budget. That would >>> equal nearly one quarter of fiscal year 2024?s projected earnings tax
collections.
The convergence of those two issues ? along with the specter of a
recession ? could trigger a years-long battle among the city, local
governments in the metro area and the state over how to maintain basic
levels of services in St. Louis.
Click here for the full story from the St. Louis Business Journal. A
subscription is required.
https://www.ksdk.com/article/news/politics/earnings-tax-battle-threatens- >>> push-st-louis-toward-fiscal-cliff/63-85cadd22-e604-4077-aa61-
52b590f4b089?ref=exit-recirc
NYC will be next.
It's already circling the drain.
Then why are you still living there?
Swill
On Sat, 20 Jan 2024 04:45:47 -0000 (UTC), pothead <pothead@snakebite.com> wrote:
On 2024-01-20, Governor Swill <governor.swill@gmail.com> wrote:
On Fri, 19 Jan 2024 15:38:24 -0000 (UTC), pothead <pothead@snakebite.com> wrote:
On 2024-01-19, useapen <yourdime@outlook.com> wrote:
Last year, as part of the fiscal year 2024 operating plan, the city budget
division projected shortfalls increasing to $41 million by the end of the >>>>> decade.
ST. LOUIS ? The city of St. Louis faces a potential budget crisis if it >>>>> loses a big chunk of its earnings tax revenue while dealing with what some
call a ?fiscal cliff.?
For several years, consultants have used long-range forecasts to warn the >>>>> city about spending exceeding revenue, calling it a ?structural imbalance?
which could create a $45 million budget shortfall. Meanwhile, a lawsuit >>>>> challenging the city?s decision to not refund the 1% earnings tax to non- >>>>> city residents who work remotely for companies in St. Louis threatens to >>>>> blow a hole as large as $50 million in the general fund budget. That would
equal nearly one quarter of fiscal year 2024?s projected earnings tax >>>>> collections.
The convergence of those two issues ? along with the specter of a
recession ? could trigger a years-long battle among the city, local
governments in the metro area and the state over how to maintain basic >>>>> levels of services in St. Louis.
Click here for the full story from the St. Louis Business Journal. A >>>>> subscription is required.
https://www.ksdk.com/article/news/politics/earnings-tax-battle-threatens- >>>>> push-st-louis-toward-fiscal-cliff/63-85cadd22-e604-4077-aa61-
52b590f4b089?ref=exit-recirc
NYC will be next.
It's already circling the drain.
Then why are you still living there?
Swill
I don't.
I just sold my parent' house for $2.5 million that they purchased in 1961 for $13k.
I live in the burbs.
Far Eastern L.I on the beach to be exact.
I do travel to NYC weekly though. Unfortunately.
Shame NYC sucks so bad. If it wasn't such a shithole you might have got a better price
for the house.
You know it's only a matter of time before the infection spreads to you. Fire Island is
on LI, iirc. There might even be queers living in your neighborhood already!
Swill
NP: Claude Monteux, Osian Ellis; Neville Marriner: Academy Of St. Martin In The Fields -
Mozart: Concerto In C For Flute & Harp, K 299 - Andantino
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