So far, federal help to state and local governments has been limited and complex. The first stimulus program (CARES Act; P.L. 116-136), signed March 27, 2020, allocated $150 billion to states, counties with more than 500,000 and cities with more… Continue Reading →
The first CARES Act report to Congress came out yesterday and this morning at 10:00am Eastern, Fed Chair Jerome Powell and Secretary Steven Mnuchin will be presenting to the Senate Banking Committee. (Or you can watch a live stream here… Continue Reading →
The first Chapter 9 case to be filed this year was the Jack County, Texas Hospital District (d/b/a Faith Community Health System – case # 20-40858). The filing had nothing to do with the COVID-19 virus but rather a dispute over… Continue Reading →
As the parable goes, a frog in a kettle of boiling water won’t notice that it’s getting hotter and hotter until it’s too late and then he’s dead. I see at least three “frogs” at varying levels of boil: retirement… Continue Reading →
Most state and local governments approach the end of the 2020 fiscal year on June 30, and by now many have estimated revenue losses and have determined where to cut the budget to achieve balance by the end of the… Continue Reading →
Unemployment insurance (UI) claim filings were eye-popping this week, but not surprising. A full stop of virtually all non-essential activities in most states also puts a full-stop on revenues from those activities. The quickest way to conserve cash for companies… Continue Reading →
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