From the Introduction and Summary: "The economic downturn that has resulted from the COVID-19 [coronavirus disease 2019] pandemic is already devastating households and families. While we do not yet know the full magnitude of the virus's impacts on the U.S. economy--and, in turn, on the nation's schools--it is evident that the effects will be substantial and likely reverberate for years to come. As states and localities work to estimate their budgets for the upcoming fiscal year, most are expecting large declines in revenue that will result in substantial budget shortfalls. Given that states and localities are the primary funding sources for K-12 public education, schools can also expect big budget cuts this coming year and likely for years to come. Worse yet, these deep cuts are coming at a time when many school budgets have still not recovered from the Great Recession, and in some communities, disinvestment has been chronic and systemic for generations."
Center for American Progress
Center for American Progress: https://cdn.americanprogress.org/