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Capitol Correspondence - 09.29.20

New Resources Highlight COVID-19’s Effects on States and Households

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It is important for our members to understand the economic climate generated by the pandemic not only for their own financial and business planning, but to understand the pressures to which policymakers respond. The following big picture resources lay out the effects of the pandemic on state and household revenues:

  • A brief by Politico Pro Analysis laying out changes in tax revenue by state, outlining what could be next as Congress seeks to respond, and identifying key policy players.
  • An infographic by Politico Data Point that explains in greater detail the changes in tax revenue faced by states, breaking down the results by corporate, income and sales taxes.
  • A survey by NPR and the Robert Wood Johnson Foundation which finds that: “At least half of households in the four largest U.S. cities—New York City (53%), Los Angeles (56%), Chicago (50%), and Houston (63%)—report serious financial problems including depleted savings, and trouble paying bills or affording medical care.”