ABSTRACT

Fifth Phase of Fiscal COVID-19 Relief is No State and Local Government Windfall   [open pdf - 0B]

From the Summary: "[1] This week's federal fiscal relief should not be considered a windfall for state (or local) governments. [2] Although Congress has spent $4.5 trillion on COVID-19 [coronavirus disease 2019] relief to date, there has not been any direct unencumbered funds allocated to state and local governments that could be used to offset budget shortfalls. [3] After assuming that $64 billion of this week's relief offsets some state and local spending we are still expecting state and local government budget shortfalls of at least $107.5 billion."

Author:
Publisher:
Date:
2020-12-23
Series:
Copyright:
2020 Hilltop Securities Inc
Retrieved From:
Hilltop Securities: https://www.hilltopsecurities.com/
Media Type:
application/pdf
URL:
Help with citations