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Stabilizing State and Local Budgets through the Pandemic and Beyond

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  • Alexander Williams

Abstract

The federal government appears to have abandoned the idea of a coordinated public health response to the COVID-19 pandemic, leaving the entirety to state and local governments. Meanwhile, the economic standstill resulting from necessary public health measures will soon cripple state and local budgets. Alexander Williams outlines a proposal for an intragovernmental automatic stabilizer program that would provide a backstop for state and local finances—both during the pandemic and beyond. Without this program, states will be severely constrained in their ability to respond to COVID-19, and balanced budget requirements will force them to cut jobs and raise taxes during the deepest recession in living memory.

Suggested Citation

  • Alexander Williams, 2020. "Stabilizing State and Local Budgets through the Pandemic and Beyond," Economics Policy Note Archive 20-2, Levy Economics Institute.
  • Handle: RePEc:lev:levypn:20-2
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    References listed on IDEAS

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    1. Miguel Faria-e-Castro, 2020. "Back-of-the-Envelope Estimates of Next Quarter’s Unemployment Rate," On the Economy 87740, Federal Reserve Bank of St. Louis.
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