The Wall Street meltdown and its fallout have caused city budget analysts to predict for the first time that revenue from business taxes will decline for three years in a row in New York City.
In a report released Thursday, the Independent Budget Office blamed the grim forecast on the demise of New York City's major investment banks. Last year, the city had five, and now there are none _ forced out of business, sold off or converted to commercial banks.
The IBO predicted that business tax receipts, after dipping 9.6 percent in 2008, will plunge from $5.4 billion in 2008 to $4.1 billion in 2009, a record drop of more than 23 percent. The report forecasts a …
Комментариев нет:
Отправить комментарий