New York Proposes Slashed Cultural Affairs Budget, Raising Art World Concerns

Under normal circumstances, the arts function as one of New York’s most important economic engines, responsible for employing roughly 300,000 people and driving more than $110 billion in income. But the arrival of the coronavirus pandemic in March has put the industry on lockdown, with museums, galleries, and theaters closed for the foreseeable future. Now facing an immense shortfall in tax revenue—about $7.4 billion—the city has proposed a revised budget for the next fiscal ye