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COVID-19 Challenges State and Local Government Finances

Author

Listed:
  • Alison Felix

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.

Suggested Citation

  • Alison Felix, 2020. "COVID-19 Challenges State and Local Government Finances," Economic Bulletin, Federal Reserve Bank of Kansas City, issue May 13, 2, pages 1-4, May.
  • Handle: RePEc:fip:fedkeb:87965
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    File URL: https://www.kansascityfed.org/documents/5438/2020-eb20felix0513.pdf
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    File URL: https://www.kansascityfed.org/research/economic-bulletin/covid-19-challenges-state-local-government-finances-2020/
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    Citations

    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic policy > Tax revenue

    More about this item

    Keywords

    Local government; State government; Federal Reserve District 10th; COVID-19; Pandemic;
    All these keywords.

    JEL classification:

    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures

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