Buffalo Facing $65 Million Shortfall, Mayor Warns of Potential Depression
Mayor Byron Brown says the City of Buffalo is facing a $65 million shortfall and that the country could be facing a depression is help is not provided.
We project that state and local government revenues will decline $155 billion in 2020, $167 billion in 2021, and $145 billion in 2022—about 5.5 percent, 5.7 percent, and 4.7 percent, respectively—excluding the declines in fees to hospitals and higher education. Including those fees to hospitals and higher education would bring these totals to $188 billion, $189 billion, and $167 billion.
Mayor Brown told Channel 4 that COVID-19 has hurt Buffalo and cities around the country. During an interview with the news organization, he told them that without federal aid, the affects of COVID-19 could lead to a depression. Mayor Brown did say that the City is doing what it can to maintain funds to provide services to residents,
“Right now, we have over $10 million in a freeze account,” Brown says. “We will continue to freeze so that we can protect the services that are needed for the residents of this community.”