COVID-19 News Round-up for December 1st

Budget, Policy & Stimulus News
Tucson Budget Remains Healthy
Tucson’s municipal budget is faring better than originally projected at the onset of the pandemic crisis, bolstered in part by revenues from online purchases and construction activity. The city also still has approximately $17M in federal CARES Act funds to spend before the end of the year. (Source)
SBA Request for Stay Denied
U.S. District Judge James E. Boasberg has rejected a request by the Small Business Administration for a stay in a lawsuit seeking detailed information about the SBA’s Paycheck Protection Program. Unless it files an appeal to a higher court, SBA must release the requested information by December 1st. (Source)
Economic News
Arizona Recovery Forecast Positive
Arizona’s economy is recovering more quickly than initially feared at the peak of the pandemic crisis. Analysts at the Arizona Tax Research Association’s annual conference said that while risks remain, the overall outlook is solidly positive. (Source)
Uncertainty Hovers in Downtown Tempe
Fueled by a lack of Arizona State University home games and other pandemic-related impacts, downtown Tempe businesses have taken a hard financial hit. Lower traffic and increased safety restrictions, along with a significant drop in tourism, have left many operators facing an uncertain future. (Source)