The Fate Of Local Budgets Without Enough Money In The Relief Bill

Dec 31, 2020 · The Fate Of Local Budgets Without Enough Money In The Relief Bill NPR's Ari Shapiro speaks with Tracy Gordon, a senior fellow with the Urban-Brookings Tax Policy …

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States Face Budget Shortfalls Without Help From Congress - NPR

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Dec 30, 2020 · While it took time for congress and President Trump to agree on the $900 billion pandemic relief bill, one thing has been certain for a while. Many mayors and governors did …

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Even With Biden Stimulus, City Budgets Are Still Threatened - Forbes

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Mar 15, 2021 · With the passage of President Biden’s $1.9 billion relief package, which includes substantial aid to states and cities, some commentators think Covid-19-threatened city …

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State And Local Governments Argue Over Whether Relief Money …

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Feb 25, 2021 · President Biden's economic rescue bill includes $350 billion in aid to state and local governments. While state finances have fared better than predicted, local governments …

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Local Budget Pressures Are Real. So Why Don’t Cities Just Raise …

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Jun 1, 2020 · The toll of the current public health crisis continues to unfold on municipal budgets with revenue shortfalls anticipated to near $360 billion over the next three years. These …

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Stimulus Bill Transforms Options For State And Local Governments

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Mar 13, 2021 · The $350 billion that was earmarked for state, local and tribal governments and U.S. territories “was one of the largest spending items in the entire bill,” said Dan White, …

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$350 Billion In State And Local Aid Is In The Stimulus Bill. Will ... - Vox

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Mar 1, 2021 · Importantly, this is not the only money in the stimulus going to state and local government entities — there are hundreds of billions more for public school reopenings, …

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FAQs about The Fate Of Local Budgets Without Enough Money In The Relief Bill Coupon?

Why are state governments facing extreme budget problems?

State governments are facing extreme budget problems due to increasing sums paid out for unemployment and health costs caused by the coronavirus crisis. At the same time, revenues from sales taxes and corporate and personal income tax payments have plummeted. State governments are experiencing these issues as reported in 'State and Local Budget Pain Looms Over Economy’s Future'. ...

How much are state budget shortfalls?

This comes as state and local governments are staring at budget shortfalls of between $172 billion and $308 billion over the next year and a half, according to an updated estimate by Moody’s Analytics released Thursday. And that’s assuming states drain the $72 billion in their reserve accounts. ...

Are local budget pressures real?

Local Budget Pressures are Real. So Why Don’t Cities Just Raise Taxes? The toll of the current public health crisis continues to unfold on municipal budgets with revenue shortfalls anticipated to near $360 billion over the next three years. ...

What would happen if there were no relief policies?

The Congressional Budget Office (CBO) reports that without the relief policies, GDP would have shrunk by 10 percent between 2019 and 2020 and risen by 5 percent between 2020 and 2021 (compared with -5.8 percent and 4.0 percent, respectively, in the July 2020 projections that include the effects of policy). ...

Which states have a budget shortfall?

Idaho, West Virginia, and Alaska, all have significant budget shortfalls as a percentage of output, based on estimates from Moody’s Analytics. Gov. Andrew M. Cuomo of New York also faces an immense budget shortfall and was granted leeway from state legislators to decide how to reduce costs. ...

What if there were no relief measures?

The new Moody’s analysis was designed to do just that, modeling the economy in the absence of relief measures and finding that without them the recovery would have been far slower and less robust, high unemployment would have been far more protracted, and as a result, hardship far worse. ...