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Implications of the COVID-19 pandemic for state government tax revenues

Stan Veuger and Jeffrey Clemens
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Stan Veuger: American Enterprise Institute
Jeffrey Clemens: University of California at San Diego

AEI Economics Working Papers from American Enterprise Institute

Abstract: We assess the Covid-19 pandemic's implications for state government sales and income tax revenues. We estimate that the economic declines implied by recent forecasts from the Congressional Budget Office will lead to a shortfall of roughly $106 billion in states' sales and income tax revenues for the 2021 fiscal year.

Keywords: State and Local Government Finance; Fiscal Federalism; Tax Bases; Balanced Budget Requirements (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2020-06
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