New York's Nassau County is set to lose $30 million in sales tax revenue in the two weeks after Hurricane Sandy.
Reuters said that the total economic impact of the storm on the county will be about $750 million by the end of the second week.
Nassau County, located in the western part of Long Island, was already facing a projected $25 million budget deficit before the Sandy stormed up the east coast.
A week before the storm hit, Moody's Investors Service downgraded Nassau's credit rating to A2 from A1, based on the county's weakening financial position and expected declines in the fund balance.
The downgrade affects about $1.4 billion of outstanding debt.
