This paper serves as an introduction to a special issue of the Municipal Finance Journal. It provides background on federal and state deficits and the regional economies where the six case study cities are located. It was also written to describe the case study framework. The six case-study...

Strong property tax growth and proactive policies – including beginning the recession with a substantial surplus of $5.3 billion (9 percent of revenues) – offset a severe contraction in income tax receipts, protecting the City’s budget such that it never contracted in absolute terms during...