Such a tax would raise an estimated $13 billion a year for the city.
The pandemic is exposing the Suffolk County government’s fragile finances and tipping it into a budget crisis.
Wall Street chief executives have said all of their workers might not return to offices full-time.
Surging unemployment and business closures are causing government revenue to plunge nationwide.
The coronavirus hit almost every asset class.
U.S. state and city pensions earned a median 6.1% return during the second half of 2019.
The wealthy are fleeing New York, California, Connecticut and New Jersey for lower tax states like Florida.
After adopting alternatives to reach for returns, pensions are struggling to understand their exposure to risk.
U.S. Treasuries that mature in one year are providing bigger after-tax yields.
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