Google Groups no longer supports new Usenet posts or subscriptions. Historical content remains viewable.
Dismiss
St. Louis City's biggest source of revenue is under fire, as projected budget shortfalls continue
0 views
Skip to first unread message
useapen
Jan 19, 2024, 3:32:55 AM1/19/24
to
Last year, as part of the fiscal year 2024 operating plan, the city budget
division projected shortfalls increasing to $41 million by the end of the
decade.
ST. LOUIS — The city of St. Louis faces a potential budget crisis if it
loses a big chunk of its earnings tax revenue while dealing with what some
call a “fiscal cliff.”
For several years, consultants have used long-range forecasts to warn the
city about spending exceeding revenue, calling it a “structural imbalance”
which could create a $45 million budget shortfall. Meanwhile, a lawsuit
challenging the city’s decision to not refund the 1% earnings tax to non-
city residents who work remotely for companies in St. Louis threatens to
blow a hole as large as $50 million in the general fund budget. That would
equal nearly one quarter of fiscal year 2024’s projected earnings tax
collections.
The convergence of those two issues – along with the specter of a
recession — could trigger a years-long battle among the city, local
governments in the metro area and the state over how to maintain basic
levels of services in St. Louis.
Click here for the full story from the St. Louis Business Journal. A
subscription is required.
https://www.ksdk.com/article/news/politics/earnings-tax-battle-threatens-
push-st-louis-toward-fiscal-cliff/63-85cadd22-e604-4077-aa61-
52b590f4b089?ref=exit-recirc
division projected shortfalls increasing to $41 million by the end of the
decade.
ST. LOUIS — The city of St. Louis faces a potential budget crisis if it
loses a big chunk of its earnings tax revenue while dealing with what some
call a “fiscal cliff.”
For several years, consultants have used long-range forecasts to warn the
city about spending exceeding revenue, calling it a “structural imbalance”
which could create a $45 million budget shortfall. Meanwhile, a lawsuit
challenging the city’s decision to not refund the 1% earnings tax to non-
city residents who work remotely for companies in St. Louis threatens to
blow a hole as large as $50 million in the general fund budget. That would
equal nearly one quarter of fiscal year 2024’s projected earnings tax
collections.
The convergence of those two issues – along with the specter of a
recession — could trigger a years-long battle among the city, local
governments in the metro area and the state over how to maintain basic
levels of services in St. Louis.
Click here for the full story from the St. Louis Business Journal. A
subscription is required.
https://www.ksdk.com/article/news/politics/earnings-tax-battle-threatens-
push-st-louis-toward-fiscal-cliff/63-85cadd22-e604-4077-aa61-
52b590f4b089?ref=exit-recirc
pothead
Jan 19, 2024, 10:38:25 AM1/19/24
to
It's already circling the drain.
--
pothead
Tommy Chong For President 2024.
Crazy Joe Biden Is A Demented Imbecile.
Impeach Joe Biden 2022.
Governor Swill
Jan 19, 2024, 10:03:16 PM1/19/24
to
On Fri, 19 Jan 2024 15:38:24 -0000 (UTC), pothead <pot...@snakebite.com> wrote:
>On 2024-01-19, useapen <your...@outlook.com> wrote:
>> Last year, as part of the fiscal year 2024 operating plan, the city budget
>> division projected shortfalls increasing to $41 million by the end of the
>> decade.
>>
>> ST. LOUIS ? The city of St. Louis faces a potential budget crisis if it
>On 2024-01-19, useapen <your...@outlook.com> wrote:
>> Last year, as part of the fiscal year 2024 operating plan, the city budget
>> division projected shortfalls increasing to $41 million by the end of the
>> decade.
>>
>> loses a big chunk of its earnings tax revenue while dealing with what some
>> call a ?fiscal cliff.?
>>
>> For several years, consultants have used long-range forecasts to warn the
>> city about spending exceeding revenue, calling it a ?structural imbalance?
>> For several years, consultants have used long-range forecasts to warn the
>> which could create a $45 million budget shortfall. Meanwhile, a lawsuit
>> challenging the city?s decision to not refund the 1% earnings tax to non-
>> city residents who work remotely for companies in St. Louis threatens to
>> blow a hole as large as $50 million in the general fund budget. That would
>> equal nearly one quarter of fiscal year 2024?s projected earnings tax
>> blow a hole as large as $50 million in the general fund budget. That would
>> collections.
>>
>> The convergence of those two issues ? along with the specter of a
>> recession ? could trigger a years-long battle among the city, local
>> governments in the metro area and the state over how to maintain basic
>> levels of services in St. Louis.
>>
>> Click here for the full story from the St. Louis Business Journal. A
>> subscription is required.
>>
>> https://www.ksdk.com/article/news/politics/earnings-tax-battle-threatens-
>> push-st-louis-toward-fiscal-cliff/63-85cadd22-e604-4077-aa61-
>> 52b590f4b089?ref=exit-recirc
>
>NYC will be next.
>It's already circling the drain.
Then why are you still living there?
>> levels of services in St. Louis.
>>
>> Click here for the full story from the St. Louis Business Journal. A
>> subscription is required.
>>
>> https://www.ksdk.com/article/news/politics/earnings-tax-battle-threatens-
>> push-st-louis-toward-fiscal-cliff/63-85cadd22-e604-4077-aa61-
>> 52b590f4b089?ref=exit-recirc
>
>NYC will be next.
>It's already circling the drain.
Swill
--
The moon landing was real, Bigfoot does not
roam the northern forests and the 2020 election was not rigged.
GO TRUMP! Go farther! Farther! I CAN STILL HEAR YOU!
Heroyam slava! Glory to the Heroes!
Sláva Ukrajíni! Glory to Ukraine!
Putin tse prezervatyv! Putin is a condom!
Go here to donate to Ukrainian relief.
<https://www2.deloitte.com/ua/uk/pages/registration-forms/help-cities.html>
pothead
Jan 19, 2024, 11:45:49 PM1/19/24
to
I just sold my parent' house for $2.5 million that they purchased in 1961 for $13k.
I live in the burbs.
Far Eastern L.I on the beach to be exact.
I do travel to NYC weekly though. Unfortunately.
Governor Swill
Jan 21, 2024, 4:27:51 AM1/21/24
to
for the house.
You know it's only a matter of time before the infection spreads to you. Fire Island is
on LI, iirc. There might even be queers living in your neighborhood already!
Swill
NP: Claude Monteux, Osian Ellis; Neville Marriner: Academy Of St. Martin In The Fields -
Mozart: Concerto In C For Flute & Harp, K 299 - Andantino
pothead
Jan 21, 2024, 10:44:18 AM1/21/24
to
I think I failed at that attempt :(
Governor Swill
Jan 21, 2024, 7:09:39 PM1/21/24
to
>I was being sarcastic / facetious.
>I think I failed at that attempt :(
hehe
>I think I failed at that attempt :(
Swill
0 new messages