States, cities that expected to go bankrupt from pandemic now seeing cash surplus
On Location: July 21, 2021
Replay Video When the pandemic hit Alexandria, Virginia, the economic outlook was bleak. In April 2020, the city projected a budget shortfall of up to $100 million as businesses shut down and workers lost their jobs, eliminating key revenue from sales, tourism and income taxes. “Early on it was catastrophic for us,” Alexandria Mayor Justin Wilson told ABC News. “Every week, unfortunately, I was getting a notification from hotels, large restaurants, telling us that they were shedding workers.”
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