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