State and local gov'ts should forego tax revenue to boost businesses now

State and local gov'ts should forego tax revenue to boost businesses now

Elected officials — from Washington, D.C., to state capitals across the country — are asking businesses to pitch in and help with COVID-19 relief. Businesses are contributing in many ways, from retooling models in order to provide personal protective equipment, and donating PPE, to brainstorming ways to help fight the virus.

Despite the positive impacts, relief efforts bring added expenses. Stay-at-home orders and related business restrictions cause a depletion in revenues, and many businesses are faced with difficult choices. Instead of asking more from businesses, state and local governments should consider asking the “reverse Kennedy” question: What can taxing entities do for their business community?