New York Small Business Programs Underfunded: Howard Cure in the New York Times
The New York City small business contingency program is too small to make much of a difference for the surge of businesses suddenly in need as a result of the Covid 19 mandatory shutdowns, said Howard Cure, director of municipal bond research at Evercore Wealth Management, in an interview with the New York Times.
It’s just so woefully underfunded for the needs of the programs,” Howard said. “The city and the state are facing such huge operating deficits from the impact of the decline in sales tax and, to a lesser extent, a decline in personal income tax, that they’re in no position to expand these programs.”
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