Las Vegas official says city facing financial crisis

[TexasTowelie]

Las Vegas officials don’t yet know how badly the novel coronavirus will hurt the city’s budget, but business closures may trigger financial turmoil that rivals the Great Recession.

But unlike the economic downturn more than a decade ago, this crisis came on suddenly, with an assortment of sales tax-paying establishments shuttering practically overnight.

Health and safety measures enacted across the U.S. are likely to hit all local governments in the wallet but it is expected to strike a particularly hard blow on the city, which collects more than half of its income from consolidated tax revenue — principally sales tax.

“We’re the most undiversified city probably in America, and tied almost exclusively to tourism and entertainment, and there’s a consequence for that,” City Manager Scott Adams said.

Read more: https://www.reviewjournal.com/news/politics-and-government/las-vegas/las-vegas-official-says-city-facing-financial-crisis-1992251/

[underpants]

1. Well, if played correctly, 21 gives you your best odds

51-49 to the house.

Good luck.

[sfstaxprep]

2. I Feel Very Sorry For All The Workers

Vegas employs a ton of people, and they are going to be devastated.

For the owners of the mega casinos, all I can offer is "Thoughts & Prayers."

[Wellstone ruled]

3. Have so say,

Adams has help create some of this with his Supply Side Budgets. When your Budget spends more on Protection of the Strip than the rest of the City,just what could go wrong. BTW,our City does not receive very much as far as direct revenue from the Casino's. And that is because of the Casino ownership's Lobbying efforts. True Libertarian Trickle down Politics. BTW,they want us as Taxpayers to foot all the expenses out side of their Entrances . Police,Fire,EMT's,Streets,and Sidewalks.