New York City faces higher credit-rating downgrade risk

7 articles · Updated · Bloomberg · May 4

JPMorgan Chase strategists said the risk has risen as New York State appears less likely to approve major personal and corporate tax increases.
Without those tax measures, the city has fewer options to raise revenue and address expected budget gaps, increasing pressure on its fiscal outlook.
A downgrade could raise borrowing costs for New York City and complicate efforts to manage future deficits and finance public services.

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