Cutbacks in a Crisis: Seven Ways to Do It Right
COMMENTARY | Strategic cutback management is an approach that can help address the Covid-19 budgetary impact and lay the groundwork for more effective government.
‘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."
Federal Aid Critical for Closing West Virginia Budget Gap, Republican Governor Says
State revenues are lagging by about $200 million. Without enough federal funds to help bridge that shortfall, Gov. Jim Justice warns “you're going to have a bankrupt state.”
A Budget Shortfall Estimate for States Grows Even Worse
Updated figures from a think-tank found that the hit to state finances will be worse than the Great Recession.
Pelosi Raises Possibility of Local Funding On Top of $500 Billion for States
The House speaker’s comments come amid partisan sparring over how far the federal government should go to help states and localities facing big revenue shortfalls due to the coronavirus.
Fed Expands Lending Program to Include More Counties and Cities
New guidelines for the initiative lower the population threshold for local governments to qualify, and allow for short-term debt to be repaid over a lengthier 36-month timeframe.
McConnell’s State Bankruptcy Remarks Signal Growing Tension Over Federal Aid
The Senate majority leader is voicing reluctance about moving quickly to fork over more federal dollars to states as they deal with budget shocks from the coronavirus outbreak.
Chances Dim For State and Local Aid in Pending Virus Relief Deal
While President Trump has indicated some support to bolster struggling state and local governments, he has said it can wait until the next coronavirus aid package.
Funding to Offset Local Government Budget Losses is Key to Next Aid Package, House Speaker Says
It would be a shift from the CARES Act, which restricts state and local aid to expenses associated with the coronavirus pandemic.
Counties Say Virus Relief Fund is Shorting Them by Billions
The National Association of Counties is pushing to change federal guidelines for how the money will be distributed to states and larger-sized local governments.
Half of Cities Expect to Cut Public Services Due to Pandemic
As local leaders urge more funding for cities, Congress is locked in a stalemate over funding priorities.
Unions Pushing for Billions in State and Local Coronavirus Aid
Labor groups representing hundreds of thousands of public employees want to see Congress funnel at least another $300 billion to state and local governments.
Small, Mid-Sized Cities Currently Cut Out of Direct Coronavirus Funding
With tax revenues down sharply, all local governments are hurting. But leaders of small and mid-sized jurisdictions in particular are arguing that they need more support.
Bruises from Coronavirus Begin to Show on State Budgets
Recent days have seen spending reductions and downbeat revenue forecasts.
In an Airport City, Coronavirus Travel Slump Stokes Budget Worries
SeaTac, Washington is in relatively good financial shape. But its tax revenues depend heavily on a sector that’s taking a beating during the disease outbreak.
Extended Income Tax Deadline Is Yet Another Coronavirus Budget Curveball for States
Shifting the due date for income tax filings to July from April will likely create some budget gaps that states will have to manage in the final months of their fiscal years.
Coronavirus Is Slamming State Unemployment Systems
Funding is one concern, another is handling an unprecedented wave of claims.
Move by Fed May Help Shore Up Short-Term Borrowing for States and Localities
The municipal bond market is experiencing a massive crunch as investors react to the coronavirus pandemic.
As Ridership and Revenues Plunge, Transit Agencies Seek Financial Aid
The coronavirus has far fewer people riding buses and trains. Tax revenues going towards transit are in line to take a hit as well.
Coronavirus Threatens to Blow Big Holes in State Budgets
States are dealing with financial uncertainty as they spend to combat the virus, but also face the possibility of lost revenues as the disease puts a major drag on the economy.
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