Virus Did Not Bring Financial Rout States Feared

New York Times: “As it turns out, new data shows that a year after the pandemic wrought economic devastation around the country, forcing states to revise their revenue forecasts and prepare for the worst, for many the worst didn’t come. One big reason: $600-a-week federal supplements that allowed people to keep spending — and states to keep collecting sales tax revenue — even when they were jobless, along with the usual state unemployment benefits.”

“By some measures, the states ended up collecting nearly as much revenue in 2020 as they did in 2019.”