LA County Will Suffer a $1 Billion Shortfall This Year

This is LA City Hall, but the county's Hall of Administration is right nearby.Kevin Drum

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Oof:

Los Angeles County could see a $1-billion decline in sales tax revenue this fiscal year, which ends June 30, because of the massive economic impact of the coronavirus outbreak. The decline is expected to surpass $2 billion between now and the end of fiscal 2021, according to county estimates released Wednesday.

That’s just one county. A big one, granted, but still just one. This is why it’s so critical for Congress to budget relief funds for cities and states. Consumers will have plenty of cash to pull us out of recession after the lockdowns are over, but their job is going to be a lot harder if they’re working against the headwind of local governments cutting back spending by billions of dollars.

To successfully reopen the economy, we need more spending from consumers, businesses, state governments, and the federal government, all working together. We’re doing OK so far on three out of four of those. Now it’s time to get serious about the fourth.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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