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With stimulus stalled, shortfalls in tax revenues leave states facing layoffs, service cuts

October 21, 2020


A combination of COVID-19 and plunging oil prices have caused states’ tax revenues to drop more than 6% during the six months from the first pandemic shutdowns in March through the end of August.

The 46 states that have reported their tax figures for the period show a combined revenue drop of nearly $30 billion compared with the same stretch last year, according to the Urban Institute, a Washington, D.C. think tank that analyzes tax policy and other issues.

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