Study Shows Columbus' Reliance On Income Taxes Could Hurt The Economy Amid COVID-19
A new study by the Brookings Institution shows Columbus relies more heavily on income tax revenue than most other American cities, which could make it the first to see an economic downturn due to the COVID-19 pandemic.
Researchers surveyed 139 American cities to learn what share of revenue comes from sources that react quickly in a economic downturn. Columbus is atop the list, with three other Ohio cities in the top ten. But Columbus city Auditor Megan Kilgore says the top employers are finding ways to cope:
Kilgore says the city is talking with those largest employers to see how they're managing the crisis. Study authors say one in 10 cities in America rely mostly on income taxes.