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How can NYC escape its worst economic crisis in decades?

AUGUST 27, 2020 | by Ross Barkan | GOTHAMIST (NEW YORK)

By Ross Barkan, includes “… plummeting revenues have led de Blasio to warn that he will need to lay off 22,000 municipal workers if the city can’t borrow money. City Council Speaker Corey Johnson and other lawmakers have joined de Blasio’s call for borrowing authority. Governor Andrew Cuomo and the Democrat-controlled State Legislature must authorize the city to take on debt. … For months, Cuomo has threatened deep cuts to localities, including New York City, if federal aid doesn’t arrive.”

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