Finance

Governors Raise Concerns About Trump’s Unemployment Benefits Order

Asking states to chip in to cover 25% of the enhanced unemployment benefits at a time they are facing significant budget shortfalls is “laughable,” said New York Gov. Andrew Cuomo.

Critics Question CARES Act Spending in Some States

“I’ve yet to meet a pothole that has the coronavirus.”

Public Pensions Rally in Chaotic Stock Market, But Bigger Bills Still Coming for Governments

Pension earnings came up short this year. Eventually, that will require bigger contributions to make up the difference.

A Third of NYC Small Businesses Could Close as Result of Pandemic

New reports shed light on the long-lasting impacts the coronavirus outbreak could have on small businesses.

Virus’ Hit to Sales Tax Revenues is Coming Into Focus and It’s Not Good

New data shows a 10%, or $42 billion, drop in state and local sales tax receipts in the second quarter. Factors like whether groceries are taxed appear to be affecting collections in some states.

New Jersey Could Allow Local Governments to Borrow to Avoid Budget Cuts

Lawmakers this week approved legislation that would allow county and municipal governments to issue "coronavirus relief bonds" they would then pay back over 10 years.

With No Agreement on Coronavirus Aid, Senate Turns to Standalone Unemployment Bills

Before adjourning for the weekend, Senate Republicans introduced several bills Thursday that would extend federal unemployment benefits for out of work Americans.

State, Local Disagreements About Coronavirus Funding Boil Over

In Miami-Dade County, officials with the city of Miami are threatening a possible lawsuit, saying the county has shortchanged them. County officials say they need to be conservative with the limited funding.

In California, State Lawmakers Propose $100 Billion Stimulus Plan

The proposal calls for offsetting reduced federal unemployment benefits and a program to incentivize early tax payments.

Senate Republicans’ Relief Bill Scales Back Enhanced Unemployment Benefits

The proposal also does not include funding for state and local governments, but would allow them to use previous funding to offset falling revenues.

America’s Cities Are Staggeringly Unequal

New data show how in every major metropolitan area, massive gaps still separate white people and people of color.

Coronavirus Impact on County Budgets Projected to Total More than $200 Billion

Increased costs related to the Covid-19 response coupled with decreasing revenues have counties bracing for a budget shortfall through at least the next fiscal year, according to a survey by the National Association of Counties.

Sen. Mitch McConnell Lays Out Priorities for GOP Coronavirus Bill

Funding for schools, direct stimulus payments to Americans, and targeted aid for businesses will be included in the proposal, but he didn't mention state and local funding.

Business Loans, Unemployment Insurance to Factor into Talks on Next Coronavirus Bill

Negotiations over the next coronavirus aid package will begin in earnest next week when Senate Republicans are expected to introduce their proposal.

‘One-Third of Our Income Is Gone’: A Rural State Faces a Big Budget Gap

Fallout from the coronavirus pandemic and downturns with oil, gas and coal have left Wyoming in a tough financial spot, with deep agency cuts and layoffs on the horizon.

How the End of the Federal Unemployment Boost Will Hurt the Economy

The $600-a-week federal boost in unemployment benefits is set to stop at the end of this month, leaving millions of people to live on substantially less money. Economists say the effects will also be felt throughout the U.S. economy.

The Terrifying Next Phase of the Coronavirus Recession

COMMENTARY | The U.S. prioritized the economy over public health—and got the worst of both worlds.

Thousands of Small Business Owners Have Not Gotten Disaster Loans the Government Promised Them

A top official said 99% of funds were paid, but only 55% of small business owners reported receiving the money. Borrowers were told there was a technical glitch, but the Small Business Administration would not answer questions about it.

New Jersey Lawmakers Consider Allowing Governor to Borrow $10 Billion to Help Fill Virus-Driven Budget Gaps

STATE AND LOCAL NEWS ROUNDUP | Michigan official asks judge to review detention of 15-year-old girl for failing to complete schoolwork … Democrats slam Maryland election plan … Colorado governor defends calling those who won’t wear masks “selfish bastards.”