When I took office in January, I knew that my Administration would be facing a large deficit. In fact, with a $360 million shortfall over the next two years, it is the largest deficit in Oakland’s history. This inherited shortfall is largely the result of two factors: the loss of federal pandemic funding and a decline in revenue generated from the real estate transfer tax and transient occupancy tax.
The post OP-ED: Balancing the Budget—and the Needs of Our Residents first appeared on Post News Group.
