Sunday, April 26, 2020

Read this. This is a good overall summary of what has happened and what is coming.

State and local governments brace for huge cuts as feds debate sending help for coronavirus-related revenue loss  Maureen Groppe   USA TODAY

Somber Congress delivers nearly $500B in virus aid

WASHINGTON – Library employees and crossing guards were among the 380 city workers given furlough notices in Louisville, Ky., this month.

New York Gov. Andrew Cuomo warned last week that, without additional federal aid, the state will have to prepare for a 20% budget shortfall, which could hit schools, local governments and hospitals.

In Indiana, a state that President Donald Trump pointed to Wednesday as one that is doing “phenomenally well,” budget reserves could be exhausted by fall, according to one independent estimate. The state is distributing a record amount of unemployment assistance.

The latest coronavirus assistance package – which Trump signed into law Friday – includes nearly a half-trillion dollars to reload an assistance program for small businesses, send more funds to cash-strapped hospitals and expand coronavirus testing.

It does not include the hundreds of billions of dollars that congressional Democrats sought to replenish the coffers of state and local governments.

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