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City economists warn tariffs and slow downtown recovery will deepen fiscal pressure on Muni
Summary
City Controller Greg Wagner and Chief Economist Ted Egan told the SFMTA board that slow revenue growth, post‑pandemic downtown weakness and recent tariff announcements increase the city's fiscal risks and constrain the city’s ability to backstop transit — reinforcing the need for durable local revenue solutions.
City financial leaders told the SFMTA board on April 22 that San Francisco’s overall fiscal picture is weaker than in previous years and that risks beyond the agency — including national tariff uncertainty and slower downtown recovery — will likely suppress general fund revenue available to support Muni.
Controller Greg Wagner walked the board through a revised five‑year forecast and said that, unchecked, the pattern of revenue growing more slowly than expenditures creates structural deficits. He cited the working forecast numbers showing a multi‑year shortfall…
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