Skip to Content

After huge pandemic losses, governments see rapid rebound

KVIA

By DAVID A. LIEB and CAMILLE FASSETT
Associated Press

State and local governments reported more than $117 billion of revenue losses in the first year of the coronavirus pandemic. That’s according to an Associated Press analysis of newly available data. But those shortfalls proved less severe than originally feared. Many of those same governments are now awash in record amounts of money. In response to the dramatic turnaround, governors, lawmakers and local officials have proposed a surge in spending as well as a new wave of tax cuts. The AP calculated the estimated revenue loss figures for 2020 by reviewing thousands of reports filed with the Treasury Department by states, counties and larger cities.

Article Topic Follows: AP Texas

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content