September 11: Recent Estimates of Fiscal Impact of 2001 Terrorist Attack on New York
- Topics:
- Homeland Security
- Tags:
- Business Operations,
- Taxes,
- Homeland Security,
- Government,
- General Accounting Office,
- Financial Planning,
- Finance,
- Corporate Insurance,
- Business Security,
- Terrorist Attack
- Source:
- U.S. General Accounting Office
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Overview: In 2002, GAO reported that the New York budget offices estimated that from the terrorist attack, New York City sustained tax revenue losses of $1.6 billion for 2002 and $1.4 billion for 2003, New York State $1.6 billion for 2002 and $4.2 billion for 2003. GAO found some limitations to these estimates, such as that it is likely that they included some of the economic recession under way in September 2001, as well as events after the attacks. This paper reports to ascertain whether the recent government studies using revised economic data would provide more precise information on the fiscal impact of the terrorist attack.
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Format: PDF | Size: 267KB | Date: Mar 2005 | Pages: 25
