State Budgets Under Scrutiny Following Pandemic-Era Tax Cuts

Progressive researchers are sounding the alarms that state tax breaks created during the COVID-19 pandemic, which could cost states $111 billion over the next five years, will harm state budgets and programs like Medicaid. But state officials are financially confident going into the new year and said one-time cuts won’t have a repeated impact on states’ finances. Despite economic uncertainty due to COVID-19, at least half of states have reported revenue surpluses for the last three years. The National Association...