Sports leagues have suspended their seasons. Organizers have canceled conferences. The coronavirus is starting to inflict economic damage as Americans hunker down to stop its spread.
Cities and states that rely on hotel taxes and tourism-related revenues will lose billions as events and attractions shutter to slow the spread of COVID-19.
The stock market plunge amid the COVID-19 pandemic increases the risk of a revenue shock for California and other states that depend on capital gains taxes.
Many businesses have implemented policies to limit non-essential travel, which is likely to have impacted the biennial presentation to municipal bond investors.