Journal Article
COVID-19 Challenges State and Local Government Finances
Abstract: As the coronavirus pandemic wreaks havoc on the U.S. economy, state and local governments will not be immune from the pain. In the near term, governments face liquidity challenges, as many tax deadlines have been postponed. In the longer term, governments will experience large revenue declines that may lead to significant budget cuts.
Keywords: Local government; State government; Federal Reserve District, 10th; COVID-19; Pandemic;
JEL Classification: H7; H71; H72;
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Bibliographic Information
Provider: Federal Reserve Bank of Kansas City
Part of Series: Economic Bulletin
Publication Date: 2020-05-13
Issue: May 13, 2020
Pages: 4