ABSTRACT

Testimony: The Need for Financial Aid to America's States and Territories During the Pandemic: Supporting First Responders, Assisting Schools in Their Efforts to Safely Educate, and Preventing Mass Layoffs   [open pdf - 0B]

From the Document: "Chairwoman Waters, Ranking Member McHenry, and Members of the Committee, thank you for the privilege of participating in this hearing on financial aid for states and territories during the pandemic crisis. In this short testimony, I want to make three simple points: [1] The recession induced by the coronavirus pandemic has been dramatic and rapid, potentially disrupting the tax and other revenue streams for state and local governments; [2] States and localities faced the brunt of the public health crisis, incurred costs for first responders, health professionals, and other direct impacts of the COVID-19 [coronavirus disease 2019] pandemic; and [3] This recession is like no other, and historical relationships between the economic cycle and state-local finances will not provide good guidance for the financial needs of the sub-federal sector."

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Date:
2020-09-10
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Copyright:
American Action Forum
Retrieved From:
American Action Forum: https://www.americanactionforum.org/
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application/pdf
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