Pandemic Aid: What Can We Learn From the 2009 Stimulus?
COMMENTARY | As state and local leaders wait to see if they will get more federal aid to deal with their growing revenue shortfalls, fiscal stability will be more attainable by paying heed to experts who helped the country out of the Great Recession.
States Contemplate Borrowing to Help Manage Pandemic’s Fiscal Impact
COMMENTARY | Short-term financing, Federal Reserve program may buy time, but budgets will need adjusting.
Small Businesses Failed by Federal Bailout Program Turn to Cash-Strapped Local Governments for Help
Thousands of small businesses, especially those owned by people of color, have been left behind by the stipulations of the Paycheck Protection Program. In Texas, local governments are lending millions of dollars and it’s not enough.
Hundreds of New York City Staffers Write to Mayor Demanding Police Reform and Budget Cuts
New York City municipal employees condemned Mayor Bill de Blasio’s response to recent protests and demanded changes to the city’s police department.
Virus Casts Uncertainty Over City Budget and Economic Development in a Health Care Hub
Like other localities, the coronavirus has Rochester, Minnesota facing questions about both its financial outlook and future economic growth.
Fed Again Expands State and Municipal Lending Program
The latest move will ensure that at least two local governments in each state have access to the program, which is designed to help states and localities weather the coronavirus crisis.
College Students Want Their Money Back. It’ll Be Tough to Get It.
There are at least 100 closure-related suits filed against colleges and universities in federal and state courts.
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.
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.
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.
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.
‘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.
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.
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.”
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.
Millions of People Face Stimulus Check Delays for a Strange Reason: They Are Poor
The IRS has had trouble getting money to people quickly because millions of Americans pay for their tax preparation through a baroque system of middlemen.
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.
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