Finance

Coronavirus Will Have an Unequal Impact on School Budgets

Districts that can largely support themselves with local tax dollars are in a better position as the economic downturn continues.

Smaller Cities Left Waiting on Coronavirus Aid Money

“The challenge for 97% of America's cities is that we haven't received any funding yet,” says one mayor.

14-Day Quarantine Complicates Tourist Rentals

Thirty states, from Maine to Montana, have instituted either a mandatory or recommended 14-day quarantine for visitors.

White House Open to Loosening Rules for State and Local Aid Funds, Mnuchin Says

The Treasury Secretary also clashed with Sen. Sherrod Brown over how well-prepared the nation is currently to limit coronavirus risks as the economy begins to reopen.

We Can Prevent a Great Depression. It’ll Take $10 Trillion.

COMMENTARY | Don’t think of that number as “big” or “bold.” Just think of it as the appropriate dosage for a once-in-a-century economic affliction.

Colorado Groups Push for Tax Hike on Higher Earners to Help With Budget Shortfall

The temporary income tax increase they’re supporting would apply to households making upwards of $250,000 per year. The state, like others, is facing budget pressures tied to the coronavirus outbreak.

The Trump Administration Says a New Bailout Program Will Help 35 Million Americans. It Probably Won’t.

Experts from across the political spectrum fear that the Federal Reserve’s new Main Street Lending program won’t reach enough businesses or save enough jobs.

Many Americans Were on Shaky Financial Ground When Virus Hit

This is underscored by a new report from the Federal Reserve, which also highlights how job losses during the coronavirus outbreak have been severe for lower earners.

Why a Struggling Rust Belt City Pinned Its Revival on a Self-Chilling Beverage Can

Welcome to Youngstown, Ohio, home of Chill-Can, the self-chilling beverage container you’ve probably never heard of. Officials have gambled millions of dollars and demolished a neighborhood for the product. Not one job has been created yet.

Scratch-Off Lottery Sales Soar

The sales are a rare bright spot for state budgets.

Virus Downturn Will Further Strain Troubled Public Pension Funds

New research warns that the nation’s worst-off retirement plans for state and local government workers “face the risk of running out of assets in the foreseeable future" if there's a slow recovery.

House Democrats Offer Coronavirus Package with $1 Trillion for State and Local Governments

The $3 trillion proposal would also allow states and localities to use prior funding to offset tax revenue lost due to the pandemic.

Western States Pact Asks for $1 Trillion in Coronavirus Relief

STATE & LOCAL ROUNDUP | Feds begin looking at Ahmaud Arbery case … South Dakota Sioux tribe refuses to remove highway checkpoints … Illinois governor to work from home.

What Tax Policy Might Look Like in the Era of Covid-19

COMMENTARY | States are facing significant shortfalls in tax revenue. Leaders will need to think carefully how to execute tax policy in an uncertain economic climate.

‘Double Whammy’: Oil Crash Adds to Virus Budget Woes in Some States

Alaska is dealing with some especially tough financial issues. In Louisiana, one lawmaker says: "It's just kind of the perfect storm with the coronavirus and the collapse of oil and gas."

House Democrats’ Coronavirus Aid Plan Would Distribute County, City Funding by Population

Democrats want to include funding for local governments in their latest proposal, but are expected to meet resistance from Republican lawmakers.

In Some States that Are Reopening, Workers Face an Ultimatum: Go Back to Work or Lose Unemployment

Leaders in at least a handful of states have made clear there will be limits on who can claim unemployment and general worker concerns about safety likely won't pass muster.

The Small-Business Die-Off Is Here

COMMENTARY | Many small businesses won’t survive, and that will change the landscape of American commerce for years to come.

Where’s My Refund?: State AGs Step in to Help

Thousands of would-be travelers are after refunds for trips untaken, resorts unvisited, vacant vacation homes and memberships to closed gyms.