ABSTRACT

How Much is COVID-19 Hurting State and Local Revenues?   [open html - 0B]

From the Webpage: "State and local governments are significant players in the U.S. economy. Employment by state and local governments represents about 13 percent of total employment in the U.S.--more than the federal government. State and local tax revenues represent about 9 percent of GDP [gross domestic product]. And unlike the federal government, state and local governments generally have to balance their operating budgets; they can't borrow to finance large deficits. This Q&A [question and answer] examines the fiscal impact that COVID-19 [coronavirus disease 2019] has had on state and local governments and is drawn from 'Fiscal Effects of COVID-19,' presented at the Brookings Papers on Economic Activity on September 24, 2020."

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Date:
2020-09-24
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Copyright:
Brookings Institution
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Brookings Institution: https://www.brookings.edu/
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text/html
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