Among the knock-on effects from the coronavirus epidemic — besides the staggering unemployment surge, the small business loan mess and the public health crisis — is the massive financial impact on state and local budgets.
Thirteen percent of American workers are employed by a state government, and states get about 70 percent of their income from sales and income taxes. Huge job losses and reduced spending have local governments predicting shortfalls, and many are furloughing their own workers.
Here to walk us through what’s going on and where this is heading is Marc Nicole. He’s president of the National Association of State Budget Officers, and the deputy secretary of the Department of Budget and Management in Maryland.
Later in the show, we’ll hear from listeners in states that are reopening, and one whose friendships are being tested by disagreements over the pandemic.
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