Just as the $349 billion set aside to help small businesses hurt by the coronavirus shutdown exhausted its funds Thursday, more questions were being raised about how the federal government intends to extend more aid to prevent more jobs from being lost.
Among those most concerned are leaders in small towns across the country staring down massive budget shortfalls due to a drop in tax revenues as unemployment rises and sales of just about anything beyond food fall off a cliff.
According to a recent survey from the United States Conference of Mayors and the National League of Cities, nearly 90% of leaders in cities and towns in the U.S. signaled they expect a revenue shortfall. But with much of the $150 billion in the federal stimulus bill solely set aside for municipalities with more than 500,000 inhabitants and specifically earmarked for efforts tied only to mitigating the spread of coronavirus, small town leaders say they are being hung out to dry.
Read more: Yahoo News.