"Our clients' portfolios—which reflect the global economy—cannot reach net zero without sustained and consistent government policy, accelerated technological breakthroughs, and substantial adaptation in corporate business models," says BlackRock.
As Ronald Reagan once quipped, "Republicans believe every day is the Fourth of July, but the Democrats believe every day is April 15," Tax Day in most years.
In spring 2020, state and local governments were confronted with cascading costs in managing the public health response to the pandemic, spiking unemployment, and steep sales tax and user fee revenue declines resulting from business disruption and restrictions.