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Recession Decimated US State Finances

2020-07-14T11:50:02.516Z


One and a half million local government jobs have been cut. A new recovery plan is under discussion at the Congress.


The collapse of the tax revenues of American states and communities, a consequence of the recession linked to the pandemic, places local elected officials in dramatic situations. The immediate reduction in available funds results in cuts in public services, particularly in the education sector, but also in roads and policing. Since March 1.5 million jobs of territorial officials have been eliminated, often among the ranks of employees of state universities. Out of a total budget of $ 39 billion, New Jersey is looking for the legal way to borrow $ 10 billion to avoid large layoffs of public servants.

Read also: Covid 19: In the United States, the fear of an endless first wave

Confinement caused activity to fall so much in the spring that government financing needs are estimated at $ 500 billion. To that, the US Conference of Mayors, which brings together mayors, adds $ 250 billion for cities. American communities depend a lot on "dirty taxes",

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Source: lefigaro

All news articles on 2020-07-14

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