|
State budget shortfalls from COVID-19’s economic fallout could total $650 billion over three years, we estimate based on new economic projections from the nonpartisan Congressional Budget Office (CBO) and updated projections from Goldman Sachs.
The new figures — significantly higher than estimates we recently issued based on economic projections of a month ago — increase the urgency that policymakers enact additional federal fiscal relief and continue it as long as economic conditions warrant.
|
