States’ Economic Preparedness is Highest Since 2000, Pew Says
- Rainy-day funds reached record $74.9 billion in 2019: report
- Too early to tell magnitude of pandemic fallout, group says
Pedestrians walk past the Fashion Show Mall on the Las Vegas Strip in Las Vegas, Nevada, U.S., on March 17.
Photographer: Joe Buglewicz/BloombergThis article is for subscribers only.
First, the good news: thanks to surging tax collections, U.S. states collectively have built up the largest fiscal cushion since 2000.
Bad news: no one knows if that will be enough as the coronavirus pandemic spreads, businesses close and the stock market turmoil hits state finances.