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Brookings: The COVID-19 Pandemic and State & Local Budgets: Past, Present, and Future
February 10 @ 2:00 pm - 3:30 pm
Brookings is hosting a webcast on The COVID-19 Pandemic and State & Local Budgets: Past, Present, and Future on Wednesday, February 10th, from 2:00 PM to 3:30 PM.
State and local governments are a major piece of the U.S. economy, accounting for about 13 percent of all employment. They typically have balanced budget requirements, which mean that shortfalls in revenues triggered by the pandemic must be offset with spending cuts or tax increases—actions which hurt taxpayers and impede the economic recovery. The December 2020 COVID relief package approved by Congress provides roughly $125 billion to state and local governments for education, health, public transit, and highways, but doesn’t include any general aid to states or localities to cover revenue losses.
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